Fiduciary Trust Co. trimmed its holdings in shares of Michael Kors Holdings Limited (NYSE:KORS) by 36.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,108 shares of the lifestyle brand’s stock after selling 2,365 shares during the period. Fiduciary Trust Co.’s holdings in Michael Kors Holdings Limited were worth $149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quinn Opportunity Partners LLC boosted its position in Michael Kors Holdings Limited by 17.6% during the second quarter. Quinn Opportunity Partners LLC now owns 20,000 shares of the lifestyle brand’s stock valued at $725,000 after buying an additional 3,000 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in Michael Kors Holdings Limited by 24.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 2,572,603 shares of the lifestyle brand’s stock valued at $93,256,000 after buying an additional 506,071 shares during the period. Swiss National Bank boosted its position in Michael Kors Holdings Limited by 1.9% during the second quarter. Swiss National Bank now owns 592,900 shares of the lifestyle brand’s stock valued at $21,493,000 after buying an additional 10,900 shares during the period. ARGA Investment Management LP boosted its position in Michael Kors Holdings Limited by 6.1% during the second quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock valued at $51,121,000 after buying an additional 81,000 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Michael Kors Holdings Limited by 11.1% during the second quarter. Principal Financial Group Inc. now owns 285,455 shares of the lifestyle brand’s stock valued at $10,348,000 after buying an additional 28,568 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.

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Michael Kors Holdings Limited (NYSE:KORS) opened at 42.57 on Wednesday. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The company has a market cap of $6.45 billion and a P/E ratio of 13.06. The firm’s 50 day moving average is $40.89 and its 200-day moving average is $37.49.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the consensus estimate of $0.62 by $0.18. The firm had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. Michael Kors Holdings Limited’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, analysts predict that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

Michael Kors Holdings Limited declared that its board has approved a stock repurchase program on Wednesday, May 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several research firms have issued reports on KORS. Jefferies Group LLC set a $65.00 price target on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a research report on Friday, May 19th. ValuEngine lowered shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Canaccord Genuity restated a “hold” rating and set a $33.00 price target (down from $38.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, June 1st. Deutsche Bank AG restated a “hold” rating and set a $36.00 price target on shares of Michael Kors Holdings Limited in a research report on Friday, June 16th. Finally, Credit Suisse Group restated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, May 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and four have given a buy rating to the company. Michael Kors Holdings Limited currently has an average rating of “Hold” and a consensus target price of $42.54.

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.

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

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