Michael Kors Holdings Limited (KORS) Stake Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Michael Kors Holdings Limited (NYSE:KORS) by 1,510.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,233 shares of the lifestyle brand’s stock after acquiring an additional 40,548 shares during the period. Victory Capital Management Inc.’s holdings in Michael Kors Holdings Limited were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Balasa Dinverno & Foltz LLC lifted its holdings in shares of Michael Kors Holdings Limited by 19.3% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after acquiring an additional 1,404 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Michael Kors Holdings Limited by 17.4% during the 2nd quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after acquiring an additional 357,661 shares during the period. Legal & General Group Plc lifted its stake in Michael Kors Holdings Limited by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock valued at $29,663,000 after purchasing an additional 39,949 shares during the last quarter. Systematic Financial Management LP lifted its stake in Michael Kors Holdings Limited by 9,030.5% in the 2nd quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock valued at $9,102,000 after purchasing an additional 248,340 shares during the last quarter. Finally, ARGA Investment Management LP lifted its stake in Michael Kors Holdings Limited by 6.1% in the 2nd quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock valued at $51,121,000 after purchasing an additional 81,000 shares during the last quarter. 87.20% of the stock is owned by institutional investors.

KORS has been the subject of several research reports. ValuEngine downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group reissued a “hold” rating and issued a $43.00 price objective on shares of Michael Kors Holdings Limited in a research note on Sunday, September 10th. Canaccord Genuity reissued a “buy” rating and issued a $67.00 price objective (up previously from $58.00) on shares of Michael Kors Holdings Limited in a research note on Friday, November 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday, September 14th. Finally, Zacks Investment Research downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.84.

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Shares of Michael Kors Holdings Limited (NYSE KORS) opened at $56.29 on Monday. The company has a market cap of $8,559.83, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.90 and a beta of 0.05. Michael Kors Holdings Limited has a twelve month low of $32.38 and a twelve month high of $56.43.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. equities research analysts forecast that Michael Kors Holdings Limited will post 3.96 EPS for the current fiscal year.

In other Michael Kors Holdings Limited news, Director M William Benedetto sold 2,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $53.60, for a total value of $107,200.00. Following the transaction, the director now directly owns 18,662 shares of the company’s stock, valued at $1,000,283.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Idol sold 500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,688,046 shares in the company, valued at $93,045,095.52. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Michael Kors Holdings Limited Profile

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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Institutional Ownership by Quarter for Michael Kors Holdings Limited (NYSE:KORS)

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