Schroder Investment Management Group Sells 984,778 Shares of Michael Kors Holdings Ltd (KORS)

Schroder Investment Management Group trimmed its position in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 40.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,444,384 shares of the lifestyle brand’s stock after selling 984,778 shares during the quarter. Schroder Investment Management Group’s holdings in Michael Kors were worth $90,924,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Michael Kors by 1.5% during the 4th quarter. Rhumbline Advisers now owns 250,585 shares of the lifestyle brand’s stock valued at $15,774,000 after purchasing an additional 3,604 shares in the last quarter. Shell Asset Management Co. increased its holdings in shares of Michael Kors by 155.5% during the 4th quarter. Shell Asset Management Co. now owns 75,074 shares of the lifestyle brand’s stock valued at $4,726,000 after purchasing an additional 45,694 shares in the last quarter. Arizona State Retirement System increased its holdings in Michael Kors by 2.5% in the 4th quarter. Arizona State Retirement System now owns 38,531 shares of the lifestyle brand’s stock worth $2,426,000 after acquiring an additional 931 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Michael Kors by 1,638.7% in the 4th quarter. Pinebridge Investments L.P. now owns 10,119 shares of the lifestyle brand’s stock worth $637,000 after acquiring an additional 9,537 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in Michael Kors by 55.5% in the 4th quarter. First Allied Advisory Services Inc. now owns 7,721 shares of the lifestyle brand’s stock worth $480,000 after acquiring an additional 2,755 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at $63.90 on Friday. Michael Kors Holdings Ltd has a one year low of $32.38 and a one year high of $69.95. The company has a current ratio of 2.00, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The stock has a market cap of $9,723.47, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 2.04 and a beta of 0.08.

Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.48. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. sell-side analysts forecast that Michael Kors Holdings Ltd will post 4.48 earnings per share for the current year.

Several equities research analysts recently commented on the stock. Robert W. Baird reissued a “hold” rating on shares of Michael Kors in a report on Monday, February 5th. Cowen set a $71.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Wednesday, February 7th. Barclays set a $75.00 price target on shares of Michael Kors and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Bank of America boosted their price target on shares of Michael Kors from $58.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $72.00 price target on shares of Michael Kors in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $62.32.

In other news, Director Stephen F. Reitman sold 6,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $62.47, for a total transaction of $406,055.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the transaction, the senior vice president now directly owns 10,081 shares in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,335 shares of company stock worth $10,155,223. Corporate insiders own 6.00% of the company’s stock.

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

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