Mason Street Advisors LLC purchased a new stake in Michael Kors Holdings Ltd. (NYSE:KORS) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,770 shares of the lifestyle brand’s stock, valued at approximately $1,176,000.

Other large investors have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its position in Michael Kors Holdings by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock valued at $119,000 after buying an additional 891 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Michael Kors Holdings by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock valued at $142,000 after buying an additional 2,528 shares in the last quarter. Toronto Dominion Bank increased its position in Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock valued at $148,000 after buying an additional 1,596 shares in the last quarter. Quantbot Technologies LP bought a new position in Michael Kors Holdings during the second quarter valued at approximately $148,000. Finally, Victory Capital Management Inc. increased its position in Michael Kors Holdings by 8.3% in the second quarter. Victory Capital Management Inc. now owns 3,374 shares of the lifestyle brand’s stock valued at $167,000 after buying an additional 258 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) opened at 50.11 on Friday. The stock has a 50 day moving average price of $49.33 and a 200 day moving average price of $50.50. Michael Kors Holdings Ltd. has a 1-year low of $34.83 and a 1-year high of $59.49. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 11.31 and a beta of 0.88.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings data on Wednesday, August 10th. The lifestyle brand reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $954.13 million. Michael Kors Holdings had a net margin of 17.33% and a return on equity of 43.05%. Michael Kors Holdings’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Equities research analysts anticipate that Michael Kors Holdings Ltd. will post $4.57 EPS for the current year.

Several research firms have recently commented on KORS. Piper Jaffray Cos. reiterated a “buy” rating and issued a $67.00 price objective on shares of Michael Kors Holdings in a report on Wednesday, June 1st. Goldman Sachs Group Inc. lifted their price objective on Michael Kors Holdings from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Canaccord Genuity reiterated a “hold” rating and issued a $45.00 price objective on shares of Michael Kors Holdings in a report on Wednesday, June 1st. Wedbush decreased their price objective on Michael Kors Holdings to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, May 31st. Finally, Buckingham Research reiterated a “neutral” rating and issued a $47.00 price objective (down previously from $54.00) on shares of Michael Kors Holdings in a report on Wednesday, June 1st. Twenty analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.52.

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

About Michael Kors Holdings

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.

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