First Merchants Corp raised its position in shares of Michael Kors Holdings Ltd. (NYSE:KORS) by 7.0% during the second quarter, Holdings Channel reports. The firm owned 21,214 shares of the lifestyle brand’s stock after buying an additional 1,380 shares during the period. First Merchants Corp’s holdings in Michael Kors Holdings were worth $1,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Exane Derivatives raised its position in Michael Kors Holdings by 10,608.9% in the first quarter. Exane Derivatives now owns 243,093 shares of the lifestyle brand’s stock worth $13,847,000 after buying an additional 240,823 shares during the last quarter. British Columbia Investment Management Corp raised its position in Michael Kors Holdings by 29.1% in the second quarter. British Columbia Investment Management Corp now owns 109,258 shares of the lifestyle brand’s stock worth $5,406,000 after buying an additional 24,611 shares during the last quarter. Geode Capital Management LLC raised its position in Michael Kors Holdings by 0.3% in the first quarter. Geode Capital Management LLC now owns 1,762,696 shares of the lifestyle brand’s stock worth $100,234,000 after buying an additional 5,972 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Michael Kors Holdings by 4.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 45,680 shares of the lifestyle brand’s stock worth $2,260,000 after buying an additional 1,993 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Michael Kors Holdings during the first quarter worth about $67,777,000. 93.04% of the stock is currently owned by institutional investors.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) traded up 1.47% during mid-day trading on Wednesday, reaching $49.84. The company had a trading volume of 1,708,926 shares. Michael Kors Holdings Ltd. has a 12-month low of $34.83 and a 12-month high of $59.49. The firm’s 50 day moving average is $49.30 and its 200-day moving average is $50.50. The stock has a market capitalization of $8.41 billion, a P/E ratio of 11.25 and a beta of 0.88.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings results on Wednesday, August 10th. The lifestyle brand reported $0.88 EPS for the quarter, beating the consensus estimate of $0.74 by $0.14. Michael Kors Holdings had a return on equity of 43.05% and a net margin of 17.33%. The firm earned $987.90 million during the quarter, compared to analysts’ expectations of $954.13 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect that Michael Kors Holdings Ltd. will post $4.57 earnings per share for the current fiscal year.

A number of research firms recently weighed in on KORS. Jefferies Group reiterated a “buy” rating on shares of Michael Kors Holdings in a research report on Monday, September 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price target on shares of Michael Kors Holdings in a research report on Tuesday, May 31st. Wedbush decreased their price target on Michael Kors Holdings to $43.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. Buckingham Research reiterated a “neutral” rating and issued a $47.00 price target (down previously from $54.00) on shares of Michael Kors Holdings in a research report on Wednesday, June 1st. Finally, Mizuho reiterated a “hold” rating and issued a $50.00 price target on shares of Michael Kors Holdings in a research report on Thursday, June 2nd. Twenty investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $54.52.

In other Michael Kors Holdings news, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $50.02, for a total value of $1,317,576.82. Following the sale, the senior vice president now owns 40,707 shares in the company, valued at $2,036,164.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Lee S. Sporn sold 4,700 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total value of $235,000.00. Following the transaction, the senior vice president now owns 22,653 shares in the company, valued at approximately $1,132,650. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Michael Kors Holdings Company Profile

Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.

5 Day 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).

Receive News & Ratings for Michael Kors Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.