Insider Selling: Michael Kors Holdings Ltd (KORS) CEO Sells 150,000 Shares of Stock
Michael Kors Holdings Ltd (NYSE:KORS) CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $62.87, for a total value of $9,430,500.00. Following the sale, the chief executive officer now owns 1,787,546 shares in the company, valued at approximately $112,383,017.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Michael Kors stock traded down $1.16 on Thursday, hitting $62.10. The company’s stock had a trading volume of 1,153,396 shares, compared to its average volume of 2,262,795. The firm has a market capitalization of $9,531.77, a PE ratio of 18.43, a PEG ratio of 2.00 and a beta of 0.13. Michael Kors Holdings Ltd has a 12 month low of $32.38 and a 12 month high of $69.95. 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 (NYSE:KORS) last issued its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.48. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. analysts predict that Michael Kors Holdings Ltd will post 4.48 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Michael Kors by 29.5% during the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock worth $216,000 after purchasing an additional 781 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Michael Kors by 3.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 31,313 shares of the lifestyle brand’s stock worth $1,971,000 after purchasing an additional 915 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Michael Kors by 2.5% during the fourth quarter. Arizona State Retirement System now owns 38,531 shares of the lifestyle brand’s stock worth $2,426,000 after purchasing an additional 931 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Michael Kors by 29.5% during the fourth quarter. Global X Management Co. LLC now owns 4,097 shares of the lifestyle brand’s stock worth $258,000 after purchasing an additional 934 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Michael Kors by 2.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,165 shares of the lifestyle brand’s stock worth $2,555,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.
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About Michael Kors
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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