Today, 1,561 Shares of Michael Kors Holdings Ltd. (KORS) are sold by Public Employees Retirement Association of Colorado

Today, 1,561 Shares of Michael Kors Holdings Ltd. (KORS) are sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Michael Kors Holdings Ltd. (NYSE:KORS) by 3.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,412 shares of the lifestyle brand’s stock after selling 1,561 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Michael Kors Holdings were worth $1,797,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Mizuho Asset Management Co. Ltd. boosted its stake in 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in Michael Kors Holdings by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock valued at $142,000 after buying an additional 2,528 shares in the last quarter. Toronto Dominion Bank boosted its stake in Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock valued at $148,000 after buying an additional 1,596 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Michael Kors Holdings during the second quarter valued at approximately $148,000. Finally, Victory Capital Management Inc. boosted its stake in 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 in the last quarter. 92.31% of the stock is owned by institutional investors and hedge funds.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) traded up 0.66% during mid-day trading on Friday, reaching $48.91. The company had a trading volume of 1,095,252 shares. The company has a market capitalization of $8.02 billion, a PE ratio of 11.15 and a beta of 0.84. 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 price is $48.52 and its 200-day moving average price is $48.54.

Michael Kors Holdings (NYSE:KORS) last posted its quarterly earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.07. Michael Kors Holdings had a net margin of 16.94% and a return on equity of 42.50%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $1.07 earnings per share. Michael Kors Holdings’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts forecast that Michael Kors Holdings Ltd. will post $4.41 earnings per share for the current fiscal year.

Several research firms have recently commented on KORS. Jefferies Group reissued 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. reaffirmed an “overweight” rating and set a $69.00 price objective on shares of Michael Kors Holdings in a report on Monday, August 8th. BMO Capital Markets set a $46.00 price objective on Michael Kors Holdings and gave the stock a “hold” rating in a report on Thursday, August 11th. Finally, Vetr raised Michael Kors Holdings from a “sell” rating to a “hold” rating and set a $50.20 price objective for the company in a report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.08.

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

About Michael Kors Holdings

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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