KBC Group NV lowered its position in shares of Michael Kors Holdings Limited (NYSE:KORS) by 19.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 340,928 shares of the lifestyle brand’s stock after selling 84,093 shares during the period. KBC Group NV owned 0.22% of Michael Kors Holdings Limited worth $12,359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Michael Kors Holdings Limited by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,194 shares of the lifestyle brand’s stock valued at $998,000 after buying an additional 125 shares during the last quarter. First Heartland Consultants Inc. boosted its position in shares of Michael Kors Holdings Limited by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after buying an additional 129 shares during the last quarter. Twin Capital Management Inc. boosted its position in shares of Michael Kors Holdings Limited by 0.8% in the first quarter. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand’s stock valued at $1,613,000 after buying an additional 320 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Michael Kors Holdings Limited by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after buying an additional 330 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Michael Kors Holdings Limited by 2.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 19,950 shares of the lifestyle brand’s stock valued at $760,000 after buying an additional 460 shares during the last quarter. Institutional investors own 84.40% of the company’s stock.

Michael Kors Holdings Limited (KORS) opened at 41.96 on Friday. The stock has a 50 day moving average price of $37.75 and a 200-day moving average price of $37.16. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 12.87 and a beta of 0.10. Michael Kors Holdings Limited has a 12-month low of $32.38 and a 12-month high of $52.67.

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

Michael Kors Holdings Limited announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to reacquire up to 18.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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Several brokerages have recently issued reports on KORS. Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 price objective on shares of Michael Kors Holdings Limited in a research note on Friday, June 9th. BMO Capital Markets set a $35.00 price objective on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Thursday, July 6th. Nomura lifted their price objective on Michael Kors Holdings Limited from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Telsey Advisory Group lifted their price objective on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, August 9th. Finally, Buckingham Research lifted their price objective on Michael Kors Holdings Limited from $34.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.77.

Michael Kors Holdings Limited Company Profile

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.

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

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