New York State Common Retirement Fund lessened its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 486,786 shares of the lifestyle brand’s stock after selling 12,900 shares during the period. New York State Common Retirement Fund owned about 0.31% of Michael Kors Holdings Limited worth $17,646,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KORS. Sandy Spring Bank grew its position in shares of 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 acquiring an additional 40 shares during the period. First Heartland Consultants Inc. increased its stake in shares of Michael Kors Holdings Limited by 1.9% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock worth $248,000 after purchasing an additional 129 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Michael Kors Holdings Limited by 5.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock worth $229,000 after purchasing an additional 330 shares during the last quarter. Financial Advisors Network Inc. increased its stake in shares of Michael Kors Holdings Limited by 5.1% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock worth $285,000 after purchasing an additional 379 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Michael Kors Holdings Limited by 2.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 19,950 shares of the lifestyle brand’s stock worth $760,000 after purchasing an additional 460 shares during the last quarter. Institutional investors and hedge funds own 83.39% of the company’s stock.

Michael Kors Holdings Limited (NYSE KORS) opened at 47.85 on Monday. The company has a 50-day moving average of $42.35 and a 200-day moving average of $37.81. The company has a market capitalization of $7.25 billion, a PE ratio of 14.68 and a beta of 0.02. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the consensus estimate of $0.62 by $0.18. The business had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

KORS has been the topic of a number of research analyst reports. Jefferies Group LLC set a $60.00 target price on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a report on Tuesday, July 4th. Nomura raised their target price on shares of Michael Kors Holdings Limited from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, August 14th. Canaccord Genuity upgraded Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $58.00 in a report on Wednesday, September 27th. Finally, ValuEngine raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $45.02.

WARNING: 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 domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/new-york-state-common-retirement-fund-has-17-65-million-position-in-michael-kors-holdings-limited-kors/1602544.html.

Michael Kors Holdings Limited Company 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.