Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Michael Kors Holdings Limited (NYSE:KORS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 202,338 shares of the lifestyle brand’s stock, valued at approximately $9,683,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned about 0.13% of Michael Kors Holdings Limited at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in Michael Kors Holdings Limited in the 2nd quarter worth approximately $114,000. Sandy Spring Bank increased its stake in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after acquiring an additional 40 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after acquiring an additional 2,325 shares during the last quarter. Creative Planning increased its stake in Michael Kors Holdings Limited by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after acquiring an additional 1,180 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Michael Kors Holdings Limited in the 2nd quarter worth approximately $188,000. 84.25% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.00% of the company’s stock.

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A number of analysts have issued reports on KORS shares. ValuEngine downgraded Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Michael Kors Holdings Limited in a research note on Sunday, September 10th. BidaskClub raised Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday, September 14th. Finally, Zacks Investment Research downgraded Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.84.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded up $0.18 during midday trading on Friday, hitting $54.71. The company had a trading volume of 2,617,800 shares, compared to its average volume of 3,033,369. The stock has a market cap of $8,319.59, a PE ratio of 12.16, a P/E/G ratio of 1.85 and a beta of 0.05. Michael Kors Holdings Limited has a 1 year low of $32.38 and a 1 year high of $55.25.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.50. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors Holdings Limited had a return on equity of 42.09% and a net margin of 12.68%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. equities analysts expect that Michael Kors Holdings Limited will post 3.96 EPS for the current fiscal year.

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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