Comerica Bank trimmed its position in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,616 shares of the lifestyle brand’s stock after selling 796 shares during the quarter. Comerica Bank’s holdings in Michael Kors were worth $3,087,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Michael Kors by 14.6% during the first quarter. Royal Bank of Canada now owns 271,659 shares of the lifestyle brand’s stock worth $16,865,000 after buying an additional 34,634 shares during the last quarter. Hourglass Capital LLC boosted its stake in Michael Kors by 25.0% during the first quarter. Hourglass Capital LLC now owns 5,000 shares of the lifestyle brand’s stock worth $310,000 after buying an additional 1,000 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Michael Kors by 9.3% during the second quarter. Oakbrook Investments LLC now owns 11,600 shares of the lifestyle brand’s stock worth $773,000 after buying an additional 990 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Michael Kors by 37.2% during the second quarter. IFM Investors Pty Ltd now owns 8,139 shares of the lifestyle brand’s stock worth $542,000 after buying an additional 2,208 shares during the last quarter. Finally, Fosun International Ltd acquired a new position in Michael Kors during the first quarter worth $2,133,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

KORS stock opened at $72.98 on Monday. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $10.85 billion, a P/E ratio of 16.15, a PEG ratio of 2.12 and a beta of -0.01. Michael Kors Holdings Ltd has a 12-month low of $41.47 and a 12-month high of $74.07.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.37. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. research analysts expect that Michael Kors Holdings Ltd will post 5.02 EPS for the current year.

A number of equities analysts have weighed in on KORS shares. Buckingham Research started coverage on Michael Kors in a research note on Monday, April 30th. They set a “buy” rating and a $84.00 price objective on the stock. Zacks Investment Research raised Michael Kors from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, April 24th. Deutsche Bank raised Michael Kors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.20 to $86.00 in a research note on Monday, April 23rd. Canaccord Genuity set a $84.00 price objective on Michael Kors and gave the stock a “buy” rating in a research note on Tuesday, May 29th. Finally, Nomura set a $80.00 price objective on Michael Kors and gave the stock a “buy” rating in a research note on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $73.33.

In related news, SVP Cathy Marie Robinson sold 6,097 shares of the business’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $63.58, for a total value of $387,647.26. Following the sale, the senior vice president now owns 24,936 shares in the company, valued at approximately $1,585,430.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael David Kors sold 179,920 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $71.35, for a total value of $12,837,292.00. The disclosure for this sale can be found here. Insiders sold a total of 798,117 shares of company stock worth $55,683,546 in the last quarter. Company insiders own 6.00% of the company’s stock.

Michael Kors Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

Further Reading: Outstanding Shares

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

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