BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Michael Kors Holdings Ltd (NYSE:KORS) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,985 shares of the lifestyle brand’s stock after buying an additional 7,221 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Michael Kors were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KORS. Pacer Advisors Inc. purchased a new position in Michael Kors in the second quarter valued at about $114,000. Sandy Spring Bank raised its position in Michael Kors by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares during the period. TrimTabs Asset Management LLC grew its stake in shares of Michael Kors by 105.1% during the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after acquiring an additional 2,325 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Michael Kors during the second quarter valued at about $188,000. Finally, First Allied Advisory Services Inc. grew its stake in shares of Michael Kors by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after acquiring an additional 337 shares in the last quarter. 86.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at $595,486.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.01, for a total value of $410,168.35. Following the sale, the senior vice president now directly owns 10,081 shares in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,835 shares of company stock worth $964,403. Corporate insiders own 6.00% of the company’s stock.

Several analysts have recently weighed in on KORS shares. Citigroup started coverage on Michael Kors in a research note on Thursday, November 2nd. They set a “positive” rating and a $62.00 target price for the company. Susquehanna Bancshares started coverage on Michael Kors in a research note on Thursday, November 2nd. They set a “positive” rating and a $62.00 target price for the company. CIBC upgraded Michael Kors from a “market perform” rating to an “outperform” rating and raised their target price for the company from $44.00 to $55.00 in a research note on Tuesday, September 19th. Jefferies Group restated a “buy” rating and set a $60.00 target price on shares of Michael Kors in a research note on Thursday, September 14th. Finally, ValuEngine downgraded Michael Kors from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Michael Kors currently has a consensus rating of “Hold” and a consensus target price of $51.84.

Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at $61.65 on Friday. The firm has a market capitalization of $9,374.93, a P/E ratio of 13.70, a PEG ratio of 2.08 and a beta of 0.12. Michael Kors Holdings Ltd has a twelve month low of $32.38 and a twelve month high of $62.30.

Michael Kors (NYSE:KORS) last released its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. The company had revenue of $1.15 billion for 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%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. sell-side analysts predict that Michael Kors Holdings Ltd will post 3.96 earnings per share for the current fiscal year.

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About Michael Kors

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.

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

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