Daiwa Securities Group Inc. reduced its position in shares of Michael Kors Holdings Limited (NYSE:KORS) by 40.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,004 shares of the lifestyle brand’s stock after selling 23,067 shares during the period. Daiwa Securities Group Inc.’s holdings in Michael Kors Holdings Limited were worth $1,232,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in KORS. DUPONT CAPITAL MANAGEMENT Corp increased its position in Michael Kors Holdings Limited by 0.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 100,283 shares of the lifestyle brand’s stock worth $3,822,000 after buying an additional 624 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Michael Kors Holdings Limited by 39.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,470 shares of the lifestyle brand’s stock worth $361,000 after buying an additional 2,657 shares in the last quarter. Acadian Asset Management LLC increased its position in Michael Kors Holdings Limited by 2,251.7% in the first quarter. Acadian Asset Management LLC now owns 28,291 shares of the lifestyle brand’s stock worth $1,079,000 after buying an additional 27,088 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in Michael Kors Holdings Limited by 783.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 185,271 shares of the lifestyle brand’s stock worth $7,061,000 after buying an additional 164,303 shares in the last quarter. Finally, DnB Asset Management AS increased its position 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. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Michael Kors Holdings Limited (KORS) opened at 45.16 on Friday. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The firm has a 50-day moving average price of $36.33 and a 200 day moving average price of $37.10. The firm has a market capitalization of $6.98 billion, a PE ratio of 13.85 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current fiscal year.

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

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A number of research analysts have weighed in on the company. MKM Partners restated a “sell” rating on shares of Michael Kors Holdings Limited in a research note on Wednesday. Deutsche Bank AG set a $46.00 price target on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Thursday. Cowen and Company restated a “market perform” rating and issued a $45.00 price target (up from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday. Credit Suisse Group restated a “hold” rating and issued a $43.00 price target on shares of Michael Kors Holdings Limited in a research note on Thursday. Finally, BMO Capital Markets set a $35.00 price target on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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