Boston Partners maintained its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,300 shares of the lifestyle brand’s stock at the end of the second quarter. Boston Partners’ holdings in Michael Kors Holdings Limited were worth $2,258,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in KORS. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $149,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $154,000. Sandy Spring Bank raised its stake in shares of Michael Kors Holdings Limited by 23.5% in the first quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 820 shares in the last quarter. Creative Planning raised its stake in shares of Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $198,000. Hedge funds and other institutional investors own 84.40% of the company’s stock.
Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 41.80 on Wednesday. The stock’s 50 day moving average price is $37.92 and its 200-day moving average price is $37.10. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67. The company has a market capitalization of $6.33 billion, a PE ratio of 12.82 and a beta of 0.10.
Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. The firm had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, analysts expect that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.
Michael Kors Holdings Limited announced that its board has initiated a stock repurchase program on Wednesday, May 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently issued reports on KORS shares. Deutsche Bank AG reduced their price target on Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, April 25th. Jefferies Group LLC set a $65.00 price target on Michael Kors Holdings Limited and gave the company a “buy” rating in a report on Friday, May 19th. Credit Suisse Group reiterated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Michael Kors Holdings Limited in a report on Wednesday, May 24th. Canaccord Genuity set a $38.00 price target on Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Friday, May 26th. Finally, Telsey Advisory Group reduced their price target on Michael Kors Holdings Limited from $42.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. Michael Kors Holdings Limited presently has a consensus rating of “Hold” and an average price target of $42.77.
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.
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 Limited (NYSE:KORS).
Receive News & Ratings for Michael Kors Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.
