Today: The Michael Kors Holdings Ltd. (KORS) Stake Boosted by Tower Research Capital LLC TRC

The Michael Kors Holdings Ltd. (KORS) Stake Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its position in Michael Kors Holdings Ltd. (NYSE:KORS) by 722.3% during the second quarter, Holdings Channel reports. The firm owned 2,878 shares of the lifestyle brand’s stock after buying an additional 2,528 shares during the period. Tower Research Capital LLC TRC’s holdings in Michael Kors Holdings were worth $142,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its position in shares of Michael Kors Holdings by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock valued at $119,000 after buying an additional 891 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Michael Kors Holdings during the second quarter valued at approximately $148,000. Victory Capital Management Inc. increased its position in shares of Michael Kors Holdings by 8.3% in the second quarter. Victory Capital Management Inc. now owns 3,374 shares of the lifestyle brand’s stock valued at $167,000 after buying an additional 258 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Michael Kors Holdings by 593.4% in the second quarter. Global X Management Co. LLC now owns 3,668 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 3,139 shares during the last quarter. Finally, Advisor Partners LLC bought a new position in shares of Michael Kors Holdings during the first quarter valued at approximately $211,000. 93.04% of the stock is owned by institutional investors.

Michael Kors Holdings Ltd. (NYSE:KORS) opened at 46.96 on Friday. Michael Kors Holdings Ltd. has a 52 week low of $34.83 and a 52 week high of $59.49. The company’s 50-day moving average is $48.72 and its 200 day moving average is $49.73. The stock has a market cap of $7.93 billion, a PE ratio of 10.60 and a beta of 0.89.

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

Several equities analysts have issued reports on the stock. Jefferies Group restated a “buy” rating on shares of Michael Kors Holdings in a research report on Sunday, September 4th. JPMorgan Chase & Co. upped their price target on shares of Michael Kors Holdings from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. BMO Capital Markets set a $46.00 price target on shares of Michael Kors Holdings and gave the company a “hold” rating in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Michael Kors Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Wedbush decreased their price target on shares of Michael Kors Holdings from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.44.

In other Michael Kors Holdings news, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $50.02, for a total transaction of $1,317,576.82. Following the transaction, the senior vice president now owns 40,707 shares in the company, valued at approximately $2,036,164.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $50.00, for a total transaction of $235,000.00. Following the transaction, the senior vice president now owns 22,653 shares in the company, valued at approximately $1,132,650. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Michael Kors Holdings Company Profile

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.

Related posts

Leave a Comment