Michael Kors Holdings Ltd (KORS) Position Increased by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 50.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,949 shares of the lifestyle brand’s stock after buying an additional 5,696 shares during the period. Cibc World Markets Corp’s holdings in Michael Kors Holdings were worth $646,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Virtus Investment Advisers Inc. purchased a new position in shares of Michael Kors Holdings during the third quarter valued at about $207,000. Two Sigma Advisers LP raised its position in shares of Michael Kors Holdings by 254.8% in the third quarter. Two Sigma Advisers LP now owns 106,111 shares of the lifestyle brand’s stock valued at $4,965,000 after buying an additional 76,200 shares during the period. Weiss Asset Management LP purchased a new position in shares of Michael Kors Holdings during the third quarter valued at about $229,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Michael Kors Holdings by 137.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,971 shares of the lifestyle brand’s stock valued at $2,525,000 after buying an additional 31,289 shares during the period. Finally, Mik Capital LLC purchased a new position in shares of Michael Kors Holdings during the third quarter valued at about $41,496,000. Institutional investors own 88.54% of the company’s stock.

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

Michael Kors Holdings Ltd (NYSE:KORS) traded down 0.33% during mid-day trading on Thursday, hitting $36.63. 1,772,655 shares of the company traded hands. The firm has a 50 day moving average of $37.20 and a 200 day moving average of $40.92. The firm has a market capitalization of $5.94 billion, a P/E ratio of 8.37 and a beta of 0.70. Michael Kors Holdings Ltd has a one year low of $34.92 and a one year high of $53.29.

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KORS has been the subject of several research analyst reports. Piper Jaffray Companies decreased their price target on shares of Michael Kors Holdings to $34.00 in a report on Wednesday, February 8th. Cowen and Company decreased their price target on shares of Michael Kors Holdings to $40.00 in a report on Wednesday, February 8th. Jefferies Group LLC set a $65.00 price target on shares of Michael Kors Holdings and gave the company a “buy” rating in a report on Tuesday, February 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 target price on shares of Michael Kors Holdings in a research note on Tuesday, February 7th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $50.00 target price (down from $56.00) on shares of Michael Kors Holdings in a research note on Tuesday, February 7th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company’s stock. Michael Kors Holdings has an average rating of “Hold” and a consensus price target of $43.84.

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.

12 Month Chart for NYSE:KORS

Want to see what other hedge funds are holding KORS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michael Kors Holdings Ltd (NYSE:KORS).

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