Grimes & Company Inc. increased its stake in shares of Michael Kors Holdings Ltd. (NYSE:KORS) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 102,294 shares of the lifestyle brand’s stock after buying an additional 1,126 shares during the period. Grimes & Company Inc. owned 0.06% of Michael Kors Holdings worth $5,062,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Dearborn Partners LLC raised its position in shares of Michael Kors Holdings by 2.4% in the second quarter. Dearborn Partners LLC now owns 6,146 shares of the lifestyle brand’s stock worth $304,000 after buying an additional 146 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Michael Kors Holdings by 2.7% in the second quarter. LS Investment Advisors LLC now owns 7,499 shares of the lifestyle brand’s stock worth $371,000 after buying an additional 196 shares in the last quarter. Cim LLC raised its position in shares of Michael Kors Holdings by 2.6% in the second quarter. Cim LLC now owns 11,370 shares of the lifestyle brand’s stock worth $563,000 after buying an additional 290 shares in the last quarter. Capital Impact Advisors LLC raised its position in shares of Michael Kors Holdings by 4.6% in the first quarter. Capital Impact Advisors LLC now owns 12,863 shares of the lifestyle brand’s stock worth $733,000 after buying an additional 563 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in shares of Michael Kors Holdings by 4.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 45,680 shares of the lifestyle brand’s stock worth $2,260,000 after buying an additional 1,993 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) traded down 1.01% during mid-day trading on Tuesday, hitting $49.12. 1,760,353 shares of the stock were exchanged. Michael Kors Holdings Ltd. has a 12 month low of $34.83 and a 12 month high of $59.49. The stock’s 50 day moving average is $49.31 and its 200 day moving average is $50.50. The firm has a market cap of $8.29 billion, a P/E ratio of 11.08 and a beta of 0.88.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings data on Wednesday, August 10th. The lifestyle brand reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $954.13 million. Michael Kors Holdings had a return on equity of 43.05% and a net margin of 17.33%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Analysts expect that Michael Kors Holdings Ltd. will post $4.57 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. Credit Suisse Group AG reiterated a “hold” rating and set a $55.00 target price on shares of Michael Kors Holdings in a research report on Tuesday, September 13th. Jefferies Group reissued a “buy” rating on shares of Michael Kors Holdings in a report on Monday, September 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $64.00 price target on shares of Michael Kors Holdings in a report on Thursday, September 8th. Citigroup Inc. reissued a “neutral” rating and issued a $51.00 price target on shares of Michael Kors Holdings in a report on Saturday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Michael Kors Holdings from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Twenty investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.52.

In other news, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total transaction of $235,000.00. Following the sale, the senior vice president now directly owns 22,653 shares of the company’s stock, valued at approximately $1,132,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $50.02, for a total value of $1,317,576.82. Following the sale, the senior vice president now directly owns 40,707 shares in the company, valued at $2,036,164.14. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

About Michael Kors Holdings

Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.

5 Day Chart for NYSE:KORS

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