Aperio Group LLC grew its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 275,511 shares of the lifestyle brand’s stock after buying an additional 5,645 shares during the quarter. Aperio Group LLC’s holdings in Michael Kors were worth $17,343,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management lifted its stake in Michael Kors by 3.4% in the fourth quarter. Picton Mahoney Asset Management now owns 91,900 shares of the lifestyle brand’s stock worth $5,784,000 after acquiring an additional 3,000 shares during the period. Engineers Gate Manager LP purchased a new stake in Michael Kors in the fourth quarter worth $2,190,000. Highstreet Asset Management Inc. purchased a new stake in Michael Kors in the fourth quarter worth $943,000. Parametrica Management Ltd purchased a new stake in Michael Kors in the fourth quarter worth $360,000. Finally, Algert Global LLC purchased a new stake in Michael Kors in the fourth quarter worth $1,473,000. 86.57% of the stock is owned by institutional investors.
A number of brokerages recently commented on KORS. Robert W. Baird reaffirmed a “hold” rating on shares of Michael Kors in a research note on Monday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $72.00 price target on shares of Michael Kors in a research note on Monday. Canaccord Genuity reaffirmed a “positive” rating and issued a $81.00 price target (up previously from $67.00) on shares of Michael Kors in a research note on Monday. OTR Global raised Michael Kors to a “positive” rating in a research note on Tuesday, January 30th. Finally, Barclays raised their price target on Michael Kors from $58.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.14.
Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at $64.05 on Tuesday. Michael Kors Holdings Ltd has a 12-month low of $32.38 and a 12-month high of $68.35. The company has a market capitalization of $9,940.00, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.18 and a beta of 0.08.
Michael Kors (NYSE:KORS) last released its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm posted $0.95 earnings per share. Michael Kors’s revenue was up 5.4% compared to the same quarter last year. analysts predict that Michael Kors Holdings Ltd will post 3.99 EPS for the current fiscal year.
In other Michael Kors news, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at $595,486.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M William Benedetto sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $53.60, for a total value of $107,200.00. Following the completion of the transaction, the director now directly owns 18,662 shares in the company, valued at $1,000,283.20. The disclosure for this sale can be found here. Insiders have sold 16,335 shares of company stock worth $936,843 over the last ninety days. 6.00% of the stock is currently owned by insiders.
About Michael Kors
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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