Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,065 shares of the lifestyle brand’s stock after selling 3,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Michael Kors were worth $3,152,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KORS. First Trust Advisors LP bought a new stake in shares of Michael Kors during the third quarter worth $7,331,000. Victory Capital Management Inc. increased its stake in shares of Michael Kors by 1,510.2% during the third quarter. Victory Capital Management Inc. now owns 43,233 shares of the lifestyle brand’s stock valued at $2,069,000 after buying an additional 40,548 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Michael Kors by 1.5% during the third quarter. State of Wisconsin Investment Board now owns 142,248 shares of the lifestyle brand’s stock valued at $6,807,000 after buying an additional 2,150 shares during the period. Prudential Financial Inc. increased its stake in shares of Michael Kors by 123.5% during the third quarter. Prudential Financial Inc. now owns 473,766 shares of the lifestyle brand’s stock valued at $22,669,000 after buying an additional 261,821 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Michael Kors by 121.7% during the third quarter. Principal Financial Group Inc. now owns 632,951 shares of the lifestyle brand’s stock valued at $30,286,000 after buying an additional 347,496 shares during the period. Institutional investors and hedge funds own 85.48% of the company’s stock.

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Shares of Michael Kors Holdings Ltd (KORS) opened at $62.28 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. Michael Kors Holdings Ltd has a 12-month low of $32.38 and a 12-month high of $69.95. The company has a market capitalization of $9,480.00, a P/E ratio of 18.05, a P/E/G ratio of 1.96 and a beta of 0.13.

Michael Kors (NYSE:KORS) last issued its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.48. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. analysts predict that Michael Kors Holdings Ltd will post 4.48 EPS for the current fiscal year.

KORS has been the topic of several research reports. Wolfe Research upgraded Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Thursday, December 14th. ValuEngine upgraded Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Goldman Sachs Group initiated coverage on Michael Kors in a research note on Tuesday, December 5th. They set a “buy” rating and a $70.00 price target on the stock. Needham & Company LLC initiated coverage on Michael Kors in a research note on Monday, December 18th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Oppenheimer raised their price target on Michael Kors from $62.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.46.

In other Michael Kors news, Director Stephen F. Reitman sold 6,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $62.47, for a total value of $406,055.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.26, for a total value of $9,339,000.00. The disclosure for this sale can be found here. Insiders have sold 407,090 shares of company stock valued at $25,116,782 over the last quarter. 6.00% of the stock is owned by company insiders.

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Michael Kors Profile

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 (NYSE:KORS)

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