Caisse DE Depot ET Placement DU Quebec Has $2.56 Million Position in Michael Kors Holdings Ltd (KORS)
Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,165 shares of the lifestyle brand’s stock after purchasing an additional 1,100 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Michael Kors were worth $2,555,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of KORS. BlackRock Inc. lifted its holdings in shares of Michael Kors by 9.3% in the second quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after purchasing an additional 1,301,796 shares in the last quarter. FMR LLC lifted its holdings in shares of Michael Kors by 33.9% in the second quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after purchasing an additional 1,107,385 shares in the last quarter. Ardevora Asset Management LLP bought a new stake in shares of Michael Kors in the third quarter valued at about $37,089,000. PDT Partners LLC lifted its holdings in shares of Michael Kors by 590.2% in the second quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock valued at $23,171,000 after purchasing an additional 546,588 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Michael Kors by 24.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,572,603 shares of the lifestyle brand’s stock valued at $93,256,000 after purchasing an additional 506,071 shares in the last quarter. 86.59% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the transaction, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the transaction, the senior vice president now directly owns 10,081 shares in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. Insiders sold 16,835 shares of company stock worth $964,403 in the last ninety days. 6.00% of the stock is owned by company insiders.
Michael Kors (NYSE:KORS) last released its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities analysts anticipate that Michael Kors Holdings Ltd will post 3.96 earnings per share for the current year.
A number of analysts have recently commented on the company. Goldman Sachs Group began coverage on Michael Kors in a report on Tuesday, December 5th. They issued a “buy” rating and a $70.00 price target on the stock. ValuEngine upgraded Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. MKM Partners upgraded Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a report on Tuesday, November 7th. Jefferies Group reiterated a “buy” rating on shares of Michael Kors in a report on Friday, November 10th. Finally, Cowen reiterated a “hold” rating on shares of Michael Kors in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $51.09.
Michael Kors 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.
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