Pictet & Cie Europe SA bought a new position in shares of Michael Kors Holdings Limited (NYSE:KORS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,612 shares of the lifestyle brand’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sandy Spring Bank raised its position in Michael Kors Holdings Limited by 0.9% during the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after acquiring an additional 40 shares in the last quarter. First Heartland Consultants Inc. raised its position in Michael Kors Holdings Limited by 1.9% during the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock worth $248,000 after acquiring an additional 129 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Michael Kors Holdings Limited by 5.8% during the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock worth $229,000 after acquiring an additional 330 shares in the last quarter. First Allied Advisory Services Inc. raised its position in Michael Kors Holdings Limited by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock worth $251,000 after acquiring an additional 337 shares in the last quarter. Finally, Financial Advisors Network Inc. raised its position in Michael Kors Holdings Limited by 5.1% during the second quarter. Financial Advisors Network Inc. now owns 7,854 shares of the lifestyle brand’s stock worth $285,000 after acquiring an additional 379 shares in the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited (KORS) traded up $0.58 during trading hours on Friday, reaching $55.76. 1,920,700 shares of the company traded hands, compared to its average volume of 2,523,704. Michael Kors Holdings Limited has a twelve month low of $32.38 and a twelve month high of $56.14. The firm has a market cap of $8,550.00, a P/E ratio of 12.26, a PEG ratio of 1.86 and a beta of 0.05.

Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping the consensus estimate of $0.83 by $0.50. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $0.95 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. analysts predict that Michael Kors Holdings Limited will post 3.96 EPS for the current year.

In related news, Director M William Benedetto sold 2,000 shares of Michael Kors Holdings Limited stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $53.60, for a total transaction of $107,200.00. Following the sale, the director now directly owns 18,662 shares in the company, valued at approximately $1,000,283.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John D. Idol sold 500 shares of Michael Kors Holdings Limited stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the sale, the chief executive officer now owns 1,688,046 shares in the company, valued at $93,045,095.52. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Several analysts have issued reports on the stock. Nomura upped their price target on shares of Michael Kors Holdings Limited from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $46.00 price target on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, August 8th. TheStreet raised shares of Michael Kors Holdings Limited from a “c+” rating to a “b” rating in a research report on Monday, November 6th. Telsey Advisory Group increased their price objective on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the company a “market perform” rating in a research report on Wednesday, August 9th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $46.00 price objective (up from $35.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.84.

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Michael Kors Holdings Limited 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.

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

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