EULAV Asset Management cut its stake in Michael Kors Holdings Limited (NYSE:KORS) by 15.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,000 shares of the lifestyle brand’s stock after selling 12,000 shares during the period. EULAV Asset Management’s holdings in Michael Kors Holdings Limited were worth $3,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mizuho Asset Management Co. Ltd. boosted its position in shares of Michael Kors Holdings Limited by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock valued at $119,000 after buying an additional 891 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Michael Kors Holdings Limited by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock valued at $142,000 after buying an additional 2,528 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Michael Kors Holdings Limited by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock valued at $148,000 after buying an additional 1,596 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Michael Kors Holdings Limited by 8.3% in the second quarter. Victory Capital Management Inc. now owns 3,374 shares of the lifestyle brand’s stock valued at $167,000 after buying an additional 258 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Michael Kors Holdings Limited by 15.0% in the second quarter. IFP Advisors Inc now owns 4,135 shares of the lifestyle brand’s stock valued at $205,000 after buying an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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

Michael Kors Holdings Limited (NYSE:KORS) traded down 0.739% during midday trading on Friday, hitting $42.335. The company had a trading volume of 690,014 shares. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 9.650 and a beta of 0.77. The stock has a 50 day moving average of $45.35 and a 200 day moving average of $48.31. Michael Kors Holdings Limited has a 52-week low of $34.83 and a 52-week high of $59.49.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. The company earned $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Michael Kors Holdings Limited had a return on equity of 42.50% and a net margin of 16.94%. Michael Kors Holdings Limited’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. On average, analysts anticipate that Michael Kors Holdings Limited will post $4.40 EPS for the current year.

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KORS has been the subject of several recent research reports. RBC Capital Markets set a $51.00 price target on Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Thursday, January 5th. Canaccord Genuity set a $45.00 price target on Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Thursday, November 10th. Vetr cut Michael Kors Holdings Limited from a “strong-buy” rating to a “buy” rating and set a $54.99 price target for the company. in a research report on Thursday, December 8th. Zacks Investment Research cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, J P Morgan Chase & Co reiterated a “hold” rating and set a $44.00 price target on shares of Michael Kors Holdings Limited in a research report on Friday, November 11th. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.83.

In other Michael Kors Holdings Limited news, SVP Krista A. Mcdonough sold 5,156 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $48.02, for a total transaction of $247,591.12. Following the completion of the transaction, the senior vice president now owns 6,843 shares of the company’s stock, valued at $328,600.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

About Michael Kors Holdings Limited

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.

5 Day Chart for NYSE:KORS

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