Bessemer Group Inc. purchased a new stake in Michael Kors Holdings Limited (NYSE:KORS) during the second quarter, Holdings Channel reports. The fund purchased 41,590 shares of the lifestyle brand’s stock, valued at approximately $1,508,000.

Other large investors have also recently modified their holdings of the company. Soros Fund Management LLC bought a new stake in Michael Kors Holdings Limited during the first quarter worth approximately $389,000. Twin Capital Management Inc. boosted its stake in Michael Kors Holdings Limited by 0.8% in the first quarter. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand’s stock worth $1,613,000 after buying an additional 320 shares in the last quarter. DnB Asset Management AS boosted its stake in Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock worth $571,000 after buying an additional 4,400 shares in the last quarter. Oxford Asset Management bought a new stake in Michael Kors Holdings Limited during the first quarter worth approximately $2,834,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Michael Kors Holdings Limited by 75.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 812,941 shares of the lifestyle brand’s stock worth $30,981,000 after buying an additional 350,512 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 44.69 on Friday. The company’s 50-day moving average price is $36.61 and its 200 day moving average price is $37.11. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The company has a market cap of $6.77 billion, a P/E ratio of 13.71 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

Michael Kors Holdings Limited declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the lifestyle brand to buy up to 18.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities research analysts have recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 target price on shares of Michael Kors Holdings Limited in a research note on Friday, June 9th. BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Thursday, July 6th. Nomura increased their target price on Michael Kors Holdings Limited from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Buckingham Research increased their target price on Michael Kors Holdings Limited from $34.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, MKM Partners reissued a “sell” rating on shares of Michael Kors Holdings Limited in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.94.

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.

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

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