Alps Advisors Inc. Takes Position in Michael Kors Holdings Ltd (KORS)

Alps Advisors Inc. bought a new position in Michael Kors Holdings Ltd (NYSE:KORS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,946 shares of the lifestyle brand’s stock, valued at approximately $248,000.

Other institutional investors have also modified their holdings of the company. Balasa Dinverno & Foltz LLC boosted its position in Michael Kors by 19.3% during the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after purchasing an additional 1,404 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Michael Kors during the third quarter valued at $4,255,000. Victory Capital Management Inc. boosted its position in Michael Kors by 1,510.2% during the third quarter. Victory Capital Management Inc. now owns 43,233 shares of the lifestyle brand’s stock valued at $2,069,000 after purchasing an additional 40,548 shares during the last quarter. California Public Employees Retirement System boosted its position in Michael Kors by 3.1% during the third quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock valued at $23,926,000 after purchasing an additional 14,927 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Michael Kors by 0.8% during the third quarter. Schroder Investment Management Group now owns 2,429,162 shares of the lifestyle brand’s stock valued at $115,895,000 after purchasing an additional 19,006 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares in the company, valued at $595,486.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the transaction, the senior vice president now owns 10,081 shares in the company, valued at $604,960.81. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Michael Kors Holdings Ltd (NYSE:KORS) opened at $63.38 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.06. The company has a market capitalization of $9,265.47, a PE ratio of 18.81, a PEG ratio of 1.77 and a beta of 0.08. Michael Kors Holdings Ltd has a 12 month low of $32.38 and a 12 month high of $69.95.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.48. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. research analysts predict that Michael Kors Holdings Ltd will post 4.48 EPS for the current fiscal year.

KORS has been the subject of a number of research reports. Wolfe Research raised Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Thursday, December 14th. ValuEngine raised Michael Kors from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Canaccord Genuity reissued a “buy” rating and set a $67.00 price objective (up previously from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Goldman Sachs Group initiated coverage on Michael Kors in a research report on Tuesday, December 5th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC initiated coverage on Michael Kors in a research report on Monday, December 18th. They set a “buy” rating and a $69.00 price objective for the company. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $62.32.

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About Michael Kors

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 (NYSE:KORS)

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