Stratos Wealth Partners LTD. decreased its stake in Michael Kors Holdings Ltd (NYSE:KORS) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,461 shares of the lifestyle brand’s stock after selling 975 shares during the period. Stratos Wealth Partners LTD.’s holdings in Michael Kors were worth $786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. AMP Capital Investors Ltd boosted its holdings in Michael Kors by 8.5% in the second quarter. AMP Capital Investors Ltd now owns 273,946 shares of the lifestyle brand’s stock valued at $18,246,000 after purchasing an additional 21,554 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Michael Kors by 42.5% in the second quarter. Voya Investment Management LLC now owns 108,969 shares of the lifestyle brand’s stock valued at $7,258,000 after purchasing an additional 32,494 shares during the last quarter. Swiss National Bank boosted its holdings in Michael Kors by 3.1% in the second quarter. Swiss National Bank now owns 503,100 shares of the lifestyle brand’s stock valued at $33,506,000 after purchasing an additional 15,100 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Michael Kors by 7.9% in the third quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock valued at $863,000 after purchasing an additional 918 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Michael Kors by 537.5% in the second quarter. Bank of Nova Scotia now owns 123,756 shares of the lifestyle brand’s stock valued at $8,241,000 after purchasing an additional 104,344 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

In related news, insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total value of $13,245,710.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $73.24, for a total value of $10,986,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 846,436 shares of company stock worth $60,640,959 over the last quarter. Insiders own 6.00% of the company’s stock.

Shares of Michael Kors stock opened at $47.78 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 1.48. The company has a market cap of $7.32 billion, a PE ratio of 10.57, a P/E/G ratio of 1.55 and a beta of 0.39. Michael Kors Holdings Ltd has a twelve month low of $47.47 and a twelve month high of $75.96.

Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.18. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. As a group, research analysts expect that Michael Kors Holdings Ltd will post 5.01 EPS for the current year.

A number of brokerages recently commented on KORS. Zacks Investment Research raised Michael Kors from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Friday, August 10th. Credit Suisse Group increased their price target on Michael Kors from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Robert W. Baird increased their price target on Michael Kors from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Citigroup increased their price target on Michael Kors from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, Barclays increased their price target on Michael Kors from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.52.

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Michael Kors Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

See Also: Buyback

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

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