Toronto Dominion Bank reduced its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 2.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 236,063 shares of the lifestyle brand’s stock after selling 5,513 shares during the period. Toronto Dominion Bank’s holdings in Michael Kors were worth $16,184,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in Michael Kors by 308.8% in the second quarter. Millennium Management LLC now owns 2,651,631 shares of the lifestyle brand’s stock worth $176,599,000 after purchasing an additional 2,003,044 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Michael Kors by 109.9% in the second quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock worth $117,457,000 after purchasing an additional 923,447 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Michael Kors by 351.4% in the second quarter. Wells Fargo & Company MN now owns 711,990 shares of the lifestyle brand’s stock worth $47,417,000 after purchasing an additional 554,253 shares in the last quarter. Unigestion Holding SA bought a new stake in Michael Kors in the second quarter worth $31,418,000. Finally, BlackRock Inc. boosted its holdings in Michael Kors by 4.4% in the second quarter. BlackRock Inc. now owns 11,127,939 shares of the lifestyle brand’s stock worth $741,120,000 after purchasing an additional 465,815 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

NYSE:KORS opened at $45.89 on Monday. Michael Kors Holdings Ltd has a 12-month low of $45.13 and a 12-month high of $75.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.71. The stock has a market capitalization of $6.89 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.43 and a beta of 0.39.

Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Michael Kors had a net margin of 11.57% and a return on equity of 36.66%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Michael Kors from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Friday, August 10th. Credit Suisse Group upped their price objective on shares of Michael Kors from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Robert W. Baird boosted their target price on shares of Michael Kors from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Citigroup boosted their target price on shares of Michael Kors from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Finally, Barclays boosted their target price on shares of Michael Kors from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.79.

In other Michael Kors news, CEO John D. Idol sold 6,676 shares of the company’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $65.26, for a total transaction of $435,675.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael David Kors sold 179,920 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total transaction of $13,245,710.40. The disclosure for this sale can be found here. Insiders sold 516,516 shares of company stock valued at $36,817,667 in the last three months. Company insiders own 6.00% of the company’s stock.

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About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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

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