Trade Report: The Candriam Luxembourg S.C.A. reaches $868,000 position of Michael Kors Holdings Ltd. (KORS)

The Candriam Luxembourg S.C.A. reaches $868,000 position  of Michael Kors Holdings Ltd. (KORS)

Candriam Luxembourg S.C.A. lowered its stake in Michael Kors Holdings Ltd. (NYSE:KORS) by 74.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,539 shares of the lifestyle brand’s stock after selling 51,700 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Michael Kors Holdings were worth $868,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Advisor Partners LLC purchased a new stake in shares of Michael Kors Holdings during the first quarter valued at about $211,000. LVW Advisors LLC purchased a new stake in shares of Michael Kors Holdings during the first quarter valued at about $214,000. Cleararc Capital Inc. purchased a new stake in shares of Michael Kors Holdings during the first quarter valued at about $249,000. Acrospire Investment Management LLC purchased a new stake in shares of Michael Kors Holdings during the first quarter valued at about $273,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Michael Kors Holdings during the first quarter valued at about $285,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) traded down 1.18% on Friday, hitting $46.96. The stock had a trading volume of 2,156,193 shares. The firm has a market cap of $7.93 billion, a PE ratio of 10.60 and a beta of 0.89. Michael Kors Holdings Ltd. has a 52-week low of $34.83 and a 52-week high of $59.49. The firm’s 50-day moving average price is $48.72 and its 200 day moving average price is $49.73.

Michael Kors Holdings (NYSE:KORS) last posted its quarterly earnings data on Wednesday, August 10th. The lifestyle brand reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The firm had revenue of $987.90 million for the quarter, compared to the consensus estimate of $954.13 million. Michael Kors Holdings had a return on equity of 43.05% and a net margin of 17.33%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, equities research analysts predict that Michael Kors Holdings Ltd. will post $4.57 EPS for the current year.

Several brokerages have recently issued reports on KORS. Jefferies Group reaffirmed a “buy” rating on shares of Michael Kors Holdings in a report on Sunday, September 4th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $55.00 price objective on shares of Michael Kors Holdings in a report on Tuesday, September 13th. Piper Jaffray Cos. restated an “overweight” rating and set a $69.00 price target on shares of Michael Kors Holdings in a report on Monday, August 8th. BMO Capital Markets set a $46.00 price target on Michael Kors Holdings and gave the company a “hold” rating in a report on Thursday, August 11th. Finally, Vetr lowered Michael Kors Holdings from a “strong-buy” rating to a “hold” rating and set a $48.57 price target on the stock. in a report on Tuesday. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. Michael Kors Holdings presently has a consensus rating of “Hold” and an average target price of $53.44.

In related news, SVP Lee S. Sporn sold 26,341 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $50.02, for a total transaction of $1,317,576.82. Following the completion of the transaction, the senior vice president now directly owns 40,707 shares of the company’s stock, valued at approximately $2,036,164.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lee S. Sporn sold 4,700 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total value of $235,000.00. Following the transaction, the senior vice president now directly owns 22,653 shares of the company’s stock, valued at $1,132,650. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

About Michael Kors Holdings

Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.

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