Pacad Investment Ltd. decreased its holdings in Michael Kors Holdings Limited (NYSE:KORS) by 79.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the lifestyle brand’s stock after selling 10,900 shares during the period. Pacad Investment Ltd.’s holdings in Michael Kors Holdings Limited were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Michael Kors Holdings Limited by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,619,469 shares of the lifestyle brand’s stock worth $633,368,000 after purchasing an additional 284,826 shares in the last quarter. BlackRock Inc. grew its stake in Michael Kors Holdings Limited by 3,587.4% during the first quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock valued at $532,997,000 after acquiring an additional 13,606,521 shares in the last quarter. Flossbach Von Storch AG grew its stake in Michael Kors Holdings Limited by 12.9% during the second quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after acquiring an additional 1,366,038 shares in the last quarter. State Street Corp grew its stake in Michael Kors Holdings Limited by 3.9% during the first quarter. State Street Corp now owns 8,681,138 shares of the lifestyle brand’s stock valued at $330,838,000 after acquiring an additional 325,525 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Michael Kors Holdings Limited by 15.2% during the first quarter. Geode Capital Management LLC now owns 2,253,064 shares of the lifestyle brand’s stock valued at $85,779,000 after acquiring an additional 296,881 shares in the last quarter. Hedge funds and other institutional investors own 83.39% of the company’s stock.

Several brokerages recently commented on KORS. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday. Sanford C. Bernstein began coverage on shares of Michael Kors Holdings Limited in a research note on Tuesday, September 12th. They set an “underperform” rating and a $37.00 price objective for the company. Credit Suisse Group reaffirmed a “hold” rating and set a $43.00 price objective on shares of Michael Kors Holdings Limited in a research note on Sunday, September 10th. ValuEngine cut shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.54.

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Michael Kors Holdings Limited (KORS) opened at 44.92 on Monday. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67. The stock has a market capitalization of $6.81 billion and a P/E ratio of 13.78. The firm’s 50-day moving average is $41.84 and its 200-day moving average is $37.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $952.40 million during 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%. Michael Kors Holdings Limited’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, equities analysts expect that Michael Kors Holdings Limited will post $3.70 earnings per share for the current fiscal year.

Michael Kors Holdings Limited announced that its board has authorized a stock repurchase program on Wednesday, May 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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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