Janus Capital Management LLC increased its position in Michael Kors Holdings Ltd (NYSE:KORS) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,888 shares of the lifestyle brand’s stock after buying an additional 1,081 shares during the period. Janus Capital Management LLC’s holdings in Michael Kors Holdings were worth $898,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in KORS. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Michael Kors Holdings during the third quarter worth approximately $613,000. PGGM Investments acquired a new stake in Michael Kors Holdings during the third quarter valued at approximately $29,053,000. Nationwide Fund Advisors boosted its stake in Michael Kors Holdings by 52.3% in the third quarter. Nationwide Fund Advisors now owns 476,989 shares of the lifestyle brand’s stock valued at $22,318,000 after buying an additional 163,892 shares during the period. Meeder Asset Management Inc. boosted its stake in Michael Kors Holdings by 170.5% in the third quarter. Meeder Asset Management Inc. now owns 38,825 shares of the lifestyle brand’s stock valued at $1,817,000 after buying an additional 24,474 shares during the period. Finally, Quotient Investors LLC acquired a new stake in Michael Kors Holdings during the third quarter valued at approximately $1,675,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at 37.83 on Monday. Michael Kors Holdings Ltd has a 52 week low of $34.92 and a 52 week high of $58.63. The company has a market cap of $6.14 billion, a P/E ratio of 8.65 and a beta of 0.70. The company’s 50-day moving average price is $38.20 and its 200 day moving average price is $44.74.
Michael Kors Holdings (NYSE:KORS) last announced its earnings results on Tuesday, February 7th. The lifestyle brand reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.01. Michael Kors Holdings had a return on equity of 41.96% and a net margin of 16.59%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $1.59 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Michael Kors Holdings Ltd will post $4.17 earnings per share for the current fiscal year.
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Several equities research analysts recently commented on the company. Vetr cut Michael Kors Holdings from a “strong-buy” rating to a “buy” rating and set a $54.99 price objective on the stock. in a research report on Thursday, December 8th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Michael Kors Holdings in a research report on Tuesday, November 29th. Royal Bank of Canada set a $51.00 price objective on Michael Kors Holdings and gave the company a “hold” rating in a research report on Thursday, January 5th. Piper Jaffray Companies cut Michael Kors Holdings from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $48.00 in a research report on Tuesday, January 3rd. Finally, Evercore ISI cut Michael Kors Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the stock. Michael Kors Holdings currently has an average rating of “Hold” and a consensus price target of $44.98.
Michael Kors Holdings 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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