Trexquant Investment LP raised its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 34.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,800 shares of the lifestyle brand’s stock after buying an additional 7,900 shares during the period. Trexquant Investment LP’s holdings in Michael Kors Holdings Limited were worth $1,116,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. NINE MASTS CAPITAL Ltd purchased a new stake in Michael Kors Holdings Limited during the first quarter worth $149,000. Ameritas Investment Partners Inc. purchased a new stake in Michael Kors Holdings Limited during the first quarter worth $154,000. Sandy Spring Bank increased its stake in 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 worth $164,000 after buying an additional 820 shares during the period. Creative Planning increased its stake in Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after buying an additional 1,180 shares during the period. Finally, Globeflex Capital L P purchased a new stake in Michael Kors Holdings Limited during the first quarter worth $198,000. 84.89% of the stock is currently owned by institutional investors.

Michael Kors Holdings Limited (KORS) opened at 45.78 on Thursday. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The stock has a 50 day moving average of $36.03 and a 200 day moving average of $37.04. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 13.91 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The business had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. Equities research analysts predict that Michael Kors Holdings Limited will post $3.70 EPS for the current fiscal year.

Michael Kors Holdings Limited announced that its board has approved a share repurchase program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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A number of equities research analysts recently weighed in on the company. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 target price on shares of Michael Kors Holdings Limited in a research report on Friday, June 9th. BMO Capital Markets set a $35.00 price target on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Thursday, July 6th. Canaccord Genuity raised their price target on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday. Buckingham Research raised their price target on shares of Michael Kors Holdings Limited from $34.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, MKM Partners restated a “sell” rating on shares of Michael Kors Holdings Limited in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have given a buy rating to the company. Michael Kors Holdings Limited has an average rating of “Hold” and an average target price of $42.26.

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.

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

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