Teacher Retirement System of Texas lessened its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 16.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,285 shares of the lifestyle brand’s stock after selling 33,464 shares during the period. Teacher Retirement System of Texas owned about 0.12% of Michael Kors Holdings Limited worth $8,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balasa Dinverno & Foltz LLC raised its holdings in Michael Kors Holdings Limited by 19.3% during the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after acquiring an additional 1,404 shares in the last quarter. Schroder Investment Management Group raised its holdings in Michael Kors Holdings Limited by 17.4% during the second quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after acquiring an additional 357,661 shares in the last quarter. Legal & General Group Plc raised its holdings in Michael Kors Holdings Limited by 5.1% during the second quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock worth $29,663,000 after acquiring an additional 39,949 shares in the last quarter. Systematic Financial Management LP raised its holdings in Michael Kors Holdings Limited by 9,030.5% during the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after acquiring an additional 248,340 shares in the last quarter. Finally, ARGA Investment Management LP raised its holdings in Michael Kors Holdings Limited by 6.1% during the second quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock worth $51,121,000 after acquiring an additional 81,000 shares in the last quarter. Institutional investors and hedge funds own 85.21% of the company’s stock.

A number of equities analysts have weighed in on KORS shares. ValuEngine downgraded Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Credit Suisse Group reissued a “hold” rating and set a $43.00 price target on shares of Michael Kors Holdings Limited in a research report on Sunday, September 10th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of Michael Kors Holdings Limited in a research report on Thursday, September 14th. Canaccord Genuity reissued a “buy” rating and set a $67.00 price target (up previously from $58.00) on shares of Michael Kors Holdings Limited in a research report on Friday, November 3rd. Finally, Zacks Investment Research downgraded Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.84.

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

Shares of Michael Kors Holdings Limited (KORS) opened at $56.29 on Friday. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $56.43. The firm has a market capitalization of $8,480.00, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.85 and a beta of 0.05.

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

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.

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

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