Stifel Financial Corp cut its stake in Michael Kors Holdings Limited (NYSE:KORS) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,046 shares of the lifestyle brand’s stock after selling 10,600 shares during the period. Stifel Financial Corp owned 0.07% of Michael Kors Holdings Limited worth $3,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Sandy Spring Bank increased its position in Michael Kors Holdings Limited by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after buying an additional 40 shares during the period. First Heartland Consultants Inc. increased its position in 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 worth $248,000 after buying an additional 129 shares during the period. Thrivent Financial For Lutherans increased its position in 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 worth $229,000 after buying an additional 330 shares during the period. Financial Advisors Network Inc. increased its position in Michael Kors Holdings Limited by 5.1% in the second quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock worth $285,000 after buying an additional 379 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in 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 worth $760,000 after buying an additional 460 shares during the period. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 47.56 on Wednesday. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67. The stock’s 50 day moving average price is $44.74 and its 200-day moving average price is $38.92. The stock has a market capitalization of $7.21 billion, a P/E ratio of 14.59 and a beta of 0.03.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.18. The company had revenue of $952.40 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Equities research analysts anticipate that Michael Kors Holdings Limited will post $3.71 EPS for the current fiscal year.

Several equities research analysts have weighed in on KORS shares. CIBC raised Michael Kors Holdings Limited from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $44.00 to $55.00 in a research report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Michael Kors Holdings Limited in a research report on Thursday, September 14th. ValuEngine lowered Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Credit Suisse Group set a $36.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 target price on shares of Michael Kors Holdings Limited in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. Michael Kors Holdings Limited has an average rating of “Hold” and a consensus price target of $45.35.

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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