Michael Kors Holdings Ltd (KORS) Stake Lowered by KBC Group NV

KBC Group NV lessened its position in Michael Kors Holdings Ltd (NYSE:KORS) by 26.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 250,364 shares of the lifestyle brand’s stock after selling 90,564 shares during the period. KBC Group NV owned about 0.16% of Michael Kors worth $11,980,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Creative Planning raised its holdings in shares of Michael Kors by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of Michael Kors in the second quarter valued at about $1,508,000. Ingalls & Snyder LLC raised its holdings in shares of Michael Kors by 17.6% in the second quarter. Ingalls & Snyder LLC now owns 20,855 shares of the lifestyle brand’s stock valued at $756,000 after buying an additional 3,115 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Michael Kors by 87.1% in the second quarter. TD Asset Management Inc. now owns 221,246 shares of the lifestyle brand’s stock valued at $8,020,000 after buying an additional 103,005 shares during the last quarter. Finally, Blue Sky Asset Management LLC bought a new position in shares of Michael Kors in the second quarter valued at about $667,000. Institutional investors own 86.50% of the company’s stock.

Shares of Michael Kors Holdings Ltd (NYSE KORS) opened at $57.98 on Friday. The company has a market capitalization of $8,816.84, a PE ratio of 12.88, a PEG ratio of 1.95 and a beta of 0.11. Michael Kors Holdings Ltd has a 52 week low of $32.38 and a 52 week high of $59.27.

Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. Michael Kors’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. equities analysts predict that Michael Kors Holdings Ltd will post 3.96 EPS for the current year.

In other news, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the completion of the sale, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John D. Idol sold 500 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total value of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000 shares of company stock valued at $554,235. 6.00% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on KORS shares. Citigroup started coverage on Michael Kors in a report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target for the company. Susquehanna Bancshares started coverage on Michael Kors in a report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target for the company. CIBC raised Michael Kors from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $44.00 to $55.00 in a report on Tuesday, September 19th. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Michael Kors in a report on Thursday, September 14th. Finally, ValuEngine cut Michael Kors from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $49.84.

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Michael Kors Company 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 (NYSE:KORS)

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