Shell Asset Management Co. held its position in Michael Kors Holdings Limited (NYSE:KORS) during the second quarter, Holdings Channel reports. The institutional investor owned 10,518 shares of the lifestyle brand’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Michael Kors Holdings Limited were worth $381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Michael Kors Holdings Limited by 3,587.4% in the first quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock valued at $532,997,000 after buying an additional 13,606,521 shares in the last quarter. Flossbach Von Storch AG increased its position in shares of Michael Kors Holdings Limited by 9.1% in the first quarter. Flossbach Von Storch AG now owns 10,606,489 shares of the lifestyle brand’s stock valued at $404,213,000 after buying an additional 888,690 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Michael Kors Holdings Limited by 5,697.0% in the first quarter. Bank of Nova Scotia now owns 678,248 shares of the lifestyle brand’s stock valued at $25,848,000 after buying an additional 666,548 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Michael Kors Holdings Limited by 14.9% in the first quarter. APG Asset Management N.V. now owns 4,430,974 shares of the lifestyle brand’s stock valued at $168,864,000 after buying an additional 573,062 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Michael Kors Holdings Limited by 796.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 493,688 shares of the lifestyle brand’s stock valued at $18,814,000 after buying an additional 438,629 shares in the last quarter. Institutional investors own 84.40% of the company’s stock.

Michael Kors Holdings Limited (NYSE KORS) opened at 44.03 on Wednesday. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The stock has a market capitalization of $6.67 billion, a PE ratio of 13.51 and a beta of 0.10. The firm has a 50-day moving average price of $37.13 and a 200-day moving average price of $37.06.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The company had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Michael Kors Holdings Limited will post $3.71 EPS for the current fiscal year.

Michael Kors Holdings Limited announced that its board has initiated a stock repurchase plan on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “Shell Asset Management Co. Has $381,000 Stake in Michael Kors Holdings Limited (KORS)” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/08/16/shell-asset-management-co-has-381000-stake-in-michael-kors-holdings-limited-kors.html.

Several research analysts have commented on KORS shares. Deutsche Bank AG cut their target price on Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, April 25th. BMO Capital Markets set a $38.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday, April 18th. Canaccord Genuity set a $38.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Friday, May 26th. Jefferies Group LLC set a $60.00 target price on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.77.

About Michael Kors Holdings Limited

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.

Want to see what other hedge funds are holding KORS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michael Kors Holdings Limited (NYSE:KORS).

Institutional Ownership by Quarter for Michael Kors Holdings Limited (NYSE:KORS)

Receive News & Stock Ratings for Michael Kors Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Limited and related stocks with our FREE daily email newsletter.