Michael Kors Holdings Limited (KORS) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in shares of Michael Kors Holdings Limited (NYSE:KORS) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 893,989 shares of the lifestyle brand’s stock after buying an additional 4,101 shares during the period. Dimensional Fund Advisors LP owned about 0.55% of Michael Kors Holdings Limited worth $34,070,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Michael Kors Holdings Limited by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,619,469 shares of the lifestyle brand’s stock valued at $633,368,000 after buying an additional 284,826 shares in the last quarter. Flossbach Von Storch AG boosted its stake in Michael Kors Holdings Limited by 9.1% in the first quarter. Flossbach Von Storch AG now owns 10,606,489 shares of the lifestyle brand’s stock valued at $404,213,000 after buying an additional 888,690 shares in the last quarter. APG Asset Management N.V. boosted its stake in Michael Kors Holdings Limited by 14.9% in the first quarter. APG Asset Management N.V. now owns 4,430,974 shares of the lifestyle brand’s stock valued at $168,864,000 after buying an additional 573,062 shares in the last quarter. Geode Capital Management LLC boosted its stake in Michael Kors Holdings Limited by 15.2% in the first quarter. Geode Capital Management LLC now owns 2,253,064 shares of the lifestyle brand’s stock valued at $85,779,000 after buying an additional 296,881 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Michael Kors Holdings Limited by 16.5% in the first quarter. Schroder Investment Management Group now owns 2,052,495 shares of the lifestyle brand’s stock valued at $78,261,000 after buying an additional 290,921 shares in the last quarter. 84.89% of the stock is owned by institutional investors.

Shares of Michael Kors Holdings Limited (KORS) opened at 45.25 on Wednesday. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The company has a 50-day moving average price of $35.34 and a 200 day moving average price of $37.08. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 13.75 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The firm had revenue of $952.40 million for the quarter, compared to analysts’ expectations of $919.18 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Michael Kors Holdings Limited will post $3.64 earnings per share for the current year.

Michael Kors Holdings Limited declared that its board has approved a share repurchase program on Wednesday, May 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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KORS has been the subject of several research analyst reports. Telsey Advisory Group boosted their target price on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday. BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday. Piper Jaffray Companies set a $46.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday. Buckingham Research set a $34.00 price objective on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Tuesday. Finally, BidaskClub raised Michael Kors Holdings Limited from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.34.

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.