Legal & General Group Plc increased its stake in Michael Kors Holdings Limited (NYSE:KORS) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,344 shares of the lifestyle brand’s stock after buying an additional 39,949 shares during the period. Legal & General Group Plc owned approximately 0.53% of Michael Kors Holdings Limited worth $29,663,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. NINE MASTS CAPITAL Ltd acquired a new stake in Michael Kors Holdings Limited during the first quarter worth about $149,000. Ameritas Investment Partners Inc. acquired a new stake in Michael Kors Holdings Limited during the first quarter worth about $154,000. Sandy Spring Bank raised its stake in Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock worth $164,000 after buying an additional 820 shares during the period. Creative Planning raised its stake in Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after buying an additional 1,180 shares during the period. Finally, Globeflex Capital L P acquired a new stake in Michael Kors Holdings Limited during the first quarter worth about $198,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Michael Kors Holdings Limited (NYSE:KORS) opened at 42.07 on Thursday. The stock has a market capitalization of $6.37 billion, a P/E ratio of 12.90 and a beta of 0.10. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67. The firm’s 50-day moving average is $38.51 and its 200 day moving average is $37.18.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. The company had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.

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

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A number of equities research analysts have issued reports on KORS shares. BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a report on Thursday, July 6th. Canaccord Genuity set a $38.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a report on Friday, May 26th. Jefferies Group LLC set a $60.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “buy” rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $36.00 target price on shares of Michael Kors Holdings Limited in a report on Friday, June 16th. Three 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. Michael Kors Holdings Limited presently has a consensus rating of “Hold” and an average price target of $42.77.

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.

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

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