Voya Investment Management LLC reduced its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 53.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,541 shares of the lifestyle brand’s stock after selling 96,284 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Michael Kors Holdings Limited worth $3,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KORS. Pacer Advisors Inc. bought a new position in shares of Michael Kors Holdings Limited during the second quarter valued at approximately $114,000. Ameritas Investment Partners Inc. bought a new position in shares of Michael Kors Holdings Limited during the first quarter valued at approximately $154,000. Sandy Spring Bank grew its stake in shares of Michael Kors Holdings Limited by 0.9% during the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after buying an additional 40 shares during the last quarter. TrimTabs Asset Management LLC grew its stake in shares of Michael Kors Holdings Limited by 105.1% during the second quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 2,325 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Michael Kors Holdings Limited by 30.8% during the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after buying an additional 1,180 shares during the last quarter. 83.39% of the stock is currently owned by institutional investors.

Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 47.77 on Friday. The stock’s 50 day moving average price is $45.32 and its 200 day moving average price is $39.12. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 14.65 and a beta of 0.03. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The firm had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. During the same period in the previous year, the company earned $0.88 earnings per share. Michael Kors Holdings Limited’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.

A number of research analysts have recently commented on the company. ValuEngine cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $60.00 target price on Michael Kors Holdings Limited and gave the company a “buy” rating in a research note on Tuesday, July 4th. Barclays PLC assumed coverage on Michael Kors Holdings Limited in a research note on Tuesday, September 19th. They set an “equal weight” rating and a $44.00 target price on the stock. Zacks Investment Research raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, October 10th. Finally, BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.35.

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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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