Meeder Asset Management Inc. lowered its stake in Michael Kors Holdings Ltd. (NYSE:KORS) by 35.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,351 shares of the lifestyle brand’s stock after selling 7,770 shares during the period. Meeder Asset Management Inc.’s holdings in Michael Kors Holdings were worth $710,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KORS. Norges Bank purchased a new stake in Michael Kors Holdings during the fourth quarter valued at about $105,117,000. Renaissance Technologies LLC purchased a new stake in Michael Kors Holdings during the first quarter valued at about $67,777,000. Acadian Asset Management LLC raised its stake in Michael Kors Holdings by 270,057.0% in the first quarter. Acadian Asset Management LLC now owns 748,335 shares of the lifestyle brand’s stock valued at $42,626,000 after buying an additional 748,058 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Michael Kors Holdings by 65.1% in the first quarter. TIAA CREF Investment Management LLC now owns 1,511,967 shares of the lifestyle brand’s stock valued at $86,122,000 after buying an additional 596,090 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Michael Kors Holdings by 3,175.2% in the first quarter. Panagora Asset Management Inc. now owns 402,914 shares of the lifestyle brand’s stock valued at $22,950,000 after buying an additional 390,612 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Michael Kors Holdings Ltd. (NYSE:KORS) traded up 0.36% on Friday, reaching $47.85. 4,192,477 shares of the company traded hands. The company has a market capitalization of $8.08 billion, a PE ratio of 10.80 and a beta of 0.88. The stock’s 50 day moving average price is $49.87 and its 200 day moving average price is $50.83. Michael Kors Holdings Ltd. has a one year low of $34.83 and a one year high of $59.49.

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

Several equities analysts recently commented on KORS shares. Zacks Investment Research downgraded shares of Michael Kors Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG reissued a “neutral” rating on shares of Michael Kors Holdings in a research note on Thursday, July 28th. Wedbush dropped their price objective on shares of Michael Kors Holdings from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 11th. Jefferies Group reissued a “buy” rating on shares of Michael Kors Holdings in a research note on Monday, September 12th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $64.00 price objective on shares of Michael Kors Holdings in a research note on Thursday, September 8th. Twenty equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.52.

In other Michael Kors Holdings news, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $50.02, for a total value of $1,317,576.82. Following the completion of the transaction, the senior vice president now directly owns 40,707 shares in the company, valued at approximately $2,036,164.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 22,653 shares of the company’s stock, valued at $1,132,650. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

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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