Zeke Capital Advisors LLC acquired a new stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,935 shares of the lifestyle brand’s stock, valued at approximately $248,000.
Several other institutional investors have also bought and sold shares of KORS. Sei Investments Co. increased its holdings in shares of Michael Kors by 65.1% in the 3rd quarter. Sei Investments Co. now owns 5,466 shares of the lifestyle brand’s stock worth $262,000 after purchasing an additional 2,156 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Michael Kors by 8.8% in the third quarter. Toronto Dominion Bank now owns 59,689 shares of the lifestyle brand’s stock worth $2,856,000 after acquiring an additional 4,815 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Michael Kors in the third quarter worth $2,713,000. Russell Investments Group Ltd. grew its holdings in shares of Michael Kors by 52.0% in the third quarter. Russell Investments Group Ltd. now owns 162,521 shares of the lifestyle brand’s stock worth $7,776,000 after acquiring an additional 55,611 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of Michael Kors by 61.7% in the third quarter. Macquarie Group Ltd. now owns 18,600 shares of the lifestyle brand’s stock worth $890,000 after acquiring an additional 7,100 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.
Shares of KORS stock traded up $1.08 during mid-day trading on Wednesday, hitting $63.72. The stock had a trading volume of 46,853 shares, compared to its average volume of 2,253,978. Michael Kors Holdings Ltd has a 1 year low of $32.38 and a 1 year high of $69.95. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9,396.34, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.13.
In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.26, for a total transaction of $9,339,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M William Benedetto sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.94, for a total value of $255,760.00. The disclosure for this sale can be found here. Insiders sold 407,090 shares of company stock worth $25,116,782 over the last ninety days. Insiders own 6.00% of the company’s stock.
Several analysts recently commented on the company. Credit Suisse Group assumed coverage on Michael Kors in a report on Monday, March 12th. They issued an “outperform” rating and a $75.00 price objective for the company. ValuEngine lowered Michael Kors from a “strong-buy” rating to a “buy” rating in a report on Friday, March 2nd. JPMorgan Chase & Co. assumed coverage on Michael Kors in a report on Friday, February 9th. They issued a “neutral” rating and a $62.00 price objective for the company. Wolfe Research lifted their price objective on Michael Kors from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Bank of America lifted their price objective on Michael Kors from $58.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.46.
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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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