Navellier & Associates Inc purchased a new position in shares of Michael Kors Holdings Ltd (NYSE:KORS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,885 shares of the lifestyle brand’s stock, valued at approximately $925,000.

Other hedge funds have also modified their holdings of the company. LMR Partners LLP raised its stake in shares of Michael Kors by 19.5% in the second quarter. LMR Partners LLP now owns 5,072 shares of the lifestyle brand’s stock valued at $338,000 after purchasing an additional 827 shares in the last quarter. World Asset Management Inc raised its stake in shares of Michael Kors by 9.2% in the second quarter. World Asset Management Inc now owns 10,631 shares of the lifestyle brand’s stock valued at $708,000 after purchasing an additional 896 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Michael Kors by 2.2% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,154 shares of the lifestyle brand’s stock valued at $2,874,000 after purchasing an additional 934 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Michael Kors by 23.0% in the first quarter. Global X Management Co. LLC now owns 5,040 shares of the lifestyle brand’s stock valued at $313,000 after purchasing an additional 943 shares in the last quarter. Finally, Oakbrook Investments LLC raised its stake in shares of Michael Kors by 9.3% in the second quarter. Oakbrook Investments LLC now owns 11,600 shares of the lifestyle brand’s stock valued at $773,000 after purchasing an additional 990 shares in the last quarter. Institutional investors own 81.03% of the company’s stock.

Shares of NYSE:KORS opened at $72.67 on Friday. 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 $10.80 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.15 and a beta of -0.01. Michael Kors Holdings Ltd has a fifty-two week low of $41.47 and a fifty-two week high of $73.25.

Michael Kors (NYSE:KORS) last announced its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, topping the consensus estimate of $0.95 by $0.37. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. research analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

A number of research analysts recently commented on the company. UBS Group upped their target price on Michael Kors from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Investment Research upgraded Michael Kors from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Friday. Barclays upped their target price on Michael Kors from $73.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird upped their target price on Michael Kors from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Credit Suisse Group upped their target price on Michael Kors from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $73.13.

In other news, SVP Cathy Marie Robinson sold 6,097 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $63.58, for a total transaction of $387,647.26. Following the sale, the senior vice president now owns 24,936 shares in the company, valued at $1,585,430.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John D. Idol sold 150,000 shares of the stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $68.20, for a total value of $10,230,000.00. Following the sale, the chief executive officer now owns 537,546 shares in the company, valued at approximately $36,660,637.20. The disclosure for this sale can be found here. Insiders have sold 468,197 shares of company stock worth $31,860,254 in the last 90 days. Company insiders own 6.00% of the company’s stock.

About Michael Kors

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.

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

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