State of Tennessee Treasury Department trimmed its holdings in Michael Kors Holdings Limited (NYSE:KORS) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,624 shares of the lifestyle brand’s stock after selling 1,766 shares during the quarter. State of Tennessee Treasury Department’s holdings in Michael Kors Holdings Limited were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of KORS. Pacer Advisors Inc. bought a new stake in Michael Kors Holdings Limited during the 2nd quarter valued at about $114,000. NINE MASTS CAPITAL Ltd bought a new stake in Michael Kors Holdings Limited during the 1st quarter valued at about $149,000. Ameritas Investment Partners Inc. bought a new stake in Michael Kors Holdings Limited during the 1st quarter valued at about $154,000. TrimTabs Asset Management LLC increased its stake in Michael Kors Holdings Limited by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 2,325 shares in the last quarter. Finally, Creative Planning increased its stake in Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors own 83.39% of the company’s stock.

A number of analysts have weighed in on KORS shares. Jefferies Group LLC restated a “buy” rating and set a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday, September 14th. CIBC upgraded shares of Michael Kors Holdings Limited from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $44.00 to $55.00 in a research note on Tuesday. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $35.00 price objective (down from $44.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. ValuEngine lowered shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Deutsche Bank AG restated a “hold” rating and set a $36.00 price objective (down from $40.00) on shares of Michael Kors Holdings Limited in a research note on Saturday, June 3rd. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.94.

Michael Kors Holdings Limited (KORS) opened at 45.92 on Friday. The firm’s 50-day moving average is $42.35 and its 200 day moving average is $37.81. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The stock has a market cap of $6.96 billion and a P/E ratio of 14.09.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same quarter in the prior year, the firm posted $0.88 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current fiscal year.

Michael Kors Holdings Limited announced that its board has approved a stock buyback program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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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.

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

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