Schwab Charles Investment Management Inc. decreased its holdings in shares of Michael Kors Holdings Limited (NYSE:KORS) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 804,080 shares of the lifestyle brand’s stock after selling 31,551 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.52% of Michael Kors Holdings Limited worth $29,148,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. NINE MASTS CAPITAL Ltd acquired a new stake in Michael Kors Holdings Limited during the 1st quarter valued at $149,000. Ameritas Investment Partners Inc. acquired a new stake in Michael Kors Holdings Limited during the 1st quarter valued at $154,000. Sandy Spring Bank lifted its holdings in Michael Kors Holdings Limited by 23.5% during the 1st quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 820 shares during the last quarter. Creative Planning lifted its holdings in Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Michael Kors Holdings Limited during the 1st quarter valued at $198,000. 83.39% of the stock is owned by institutional investors and hedge funds.

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Shares of Michael Kors Holdings Limited (KORS) opened at 44.42 on Friday. The firm has a market capitalization of $6.73 billion and a price-to-earnings ratio of 13.63. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The stock’s 50 day moving average price is $41.59 and its 200-day moving average price is $37.62.

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

Michael Kors Holdings Limited declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the lifestyle brand to repurchase up to 18.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

KORS has been the topic of several recent research reports. Canaccord Genuity increased their price objective on Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. BMO Capital Markets reiterated a “market perform” rating and set a $46.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Cowen and Company reiterated a “market perform” rating and set a $45.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, August 10th. Telsey Advisory Group increased their price objective on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG set a $46.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and four have issued a buy rating to the stock. Michael Kors Holdings Limited has a consensus 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.

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

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