Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Michael Kors Holdings Limited (NYSE:KORS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 56,705 shares of the lifestyle brand’s stock, valued at approximately $2,713,000.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in Michael Kors Holdings Limited in the 2nd quarter valued at $114,000. Sandy Spring Bank increased its stake in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after buying an additional 40 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 2,325 shares during the last quarter. Creative Planning increased its stake in Michael Kors Holdings Limited by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Michael Kors Holdings Limited in the 2nd quarter valued at $188,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at $56.61 on Thursday. The stock has a market cap of $8,565.92, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.90 and a beta of 0.05. Michael Kors Holdings Limited has a twelve month low of $32.38 and a twelve month high of $56.72.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. equities analysts anticipate that Michael Kors Holdings Limited will post 3.96 earnings per share for the current year.

Several equities research analysts have issued reports on the stock. MKM Partners upgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “neutral” rating and set a $26.00 price target on the stock in a research note on Tuesday, November 7th. ValuEngine upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Cowen and Company reiterated a “hold” rating on shares of Michael Kors Holdings Limited in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a research note on Wednesday, November 8th. Finally, Susquehanna Bancshares Inc assumed coverage on shares of Michael Kors Holdings Limited in a research note on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Michael Kors Holdings Limited currently has a consensus rating of “Hold” and a consensus price target of $49.84.

In other news, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John D. Idol sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,000 shares of company stock valued at $554,235. 6.00% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.watchlistnews.com/los-angeles-capital-management-equity-research-inc-purchases-new-position-in-michael-kors-holdings-limited-kors/1721631.html.

Michael Kors Holdings Limited Profile

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.

Want to see what other hedge funds are holding KORS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michael Kors Holdings Limited (NYSE:KORS).

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

Receive News & Ratings for Michael Kors Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.