Tributary Capital Management LLC Decreases Position in Michael Kors Holdings Limited (KORS), Report finds

Tributary Capital Management LLC Decreases Position in Michael Kors Holdings Limited (KORS), Report finds

Tributary Capital Management LLC reduced its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 37.9% during the third quarter, Holdings Channel reports. The firm owned 22,900 shares of the lifestyle brand’s stock after selling 14,000 shares during the period. Tributary Capital Management LLC’s holdings in Michael Kors Holdings Limited were worth $1,071,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Frontier Wealth Management LLC increased its position in shares of Michael Kors Holdings Limited by 107.9% in the second quarter. Frontier Wealth Management LLC now owns 7,571 shares of the lifestyle brand’s stock worth $375,000 after buying an additional 3,929 shares during the last quarter. Westport Resources Management Inc. purchased a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $824,000. Bank of Nova Scotia purchased a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $3,760,000. Globeflex Capital L P increased its position in shares of Michael Kors Holdings Limited by 1.1% in the second quarter. Globeflex Capital L P now owns 21,442 shares of the lifestyle brand’s stock worth $1,061,000 after buying an additional 235 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Michael Kors Holdings Limited by 37.5% in the second quarter. Dimensional Fund Advisors LP now owns 883,005 shares of the lifestyle brand’s stock worth $43,688,000 after buying an additional 240,849 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Michael Kors Holdings Limited (NYSE:KORS) traded up 2.85% during mid-day trading on Wednesday, hitting $37.87. 9,807,631 shares of the stock were exchanged. The company has a market cap of $6.21 billion, a P/E ratio of 8.63 and a beta of 0.70. Michael Kors Holdings Limited has a one year low of $34.92 and a one year high of $59.49. The company has a 50-day moving average price of $42.23 and a 200-day moving average price of $47.18.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings results on Tuesday, February 7th. The lifestyle brand reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.01. The business earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Michael Kors Holdings Limited had a return on equity of 42.50% and a net margin of 16.94%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. On average, analysts predict that Michael Kors Holdings Limited will post $4.27 earnings per share for the current fiscal year.

KORS has been the subject of a number of analyst reports. Vetr upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $48.57 price objective for the company in a research report on Monday, October 17th. Zacks Investment Research downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price target on shares of Michael Kors Holdings Limited in a report on Tuesday, November 8th. Piper Jaffray Companies set a $60.00 price target on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a report on Tuesday, November 8th. Finally, Canaccord Genuity set a $45.00 price target on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the company’s stock. Michael Kors Holdings Limited currently has an average rating of “Hold” and a consensus target price of $47.64.

In related news, SVP Krista A. Mcdonough sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $48.02, for a total value of $247,591.12. Following the completion of the sale, the senior vice president now owns 6,843 shares of the company’s stock, valued at approximately $328,600.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.00% of the company’s stock.

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.

Want to see what other hedge funds are holding KORS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michael Kors Holdings Limited (NYSE:KORS).

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Tributary Capital Management LLC Decreases Position in Michael Kors Holdings Limited (KORS)

Tributary Capital Management LLC Decreases Position in Michael Kors Holdings Limited (KORS)

Tributary Capital Management LLC reduced its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 37.9% during the third quarter, Holdings Channel reports. The firm owned 22,900 shares of the lifestyle brand’s stock after selling 14,000 shares during the period. Tributary Capital Management LLC’s holdings in Michael Kors Holdings Limited were worth $1,071,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Frontier Wealth Management LLC increased its position in shares of Michael Kors Holdings Limited by 107.9% in the second quarter. Frontier Wealth Management LLC now owns 7,571 shares of the lifestyle brand’s stock worth $375,000 after buying an additional 3,929 shares during the last quarter. Westport Resources Management Inc. purchased a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $824,000. Bank of Nova Scotia purchased a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $3,760,000. Globeflex Capital L P increased its position in shares of Michael Kors Holdings Limited by 1.1% in the second quarter. Globeflex Capital L P now owns 21,442 shares of the lifestyle brand’s stock worth $1,061,000 after buying an additional 235 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Michael Kors Holdings Limited by 37.5% in the second quarter. Dimensional Fund Advisors LP now owns 883,005 shares of the lifestyle brand’s stock worth $43,688,000 after buying an additional 240,849 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Michael Kors Holdings Limited (NYSE:KORS) traded up 2.85% during mid-day trading on Wednesday, hitting $37.87. 9,807,631 shares of the stock were exchanged. The company has a market cap of $6.21 billion, a P/E ratio of 8.63 and a beta of 0.70. Michael Kors Holdings Limited has a one year low of $34.92 and a one year high of $59.49. The company has a 50-day moving average price of $42.23 and a 200-day moving average price of $47.18.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings results on Tuesday, February 7th. The lifestyle brand reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.01. The business earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Michael Kors Holdings Limited had a return on equity of 42.50% and a net margin of 16.94%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. On average, analysts predict that Michael Kors Holdings Limited will post $4.27 earnings per share for the current fiscal year.

KORS has been the subject of a number of analyst reports. Vetr upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $48.57 price objective for the company in a research report on Monday, October 17th. Zacks Investment Research downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price target on shares of Michael Kors Holdings Limited in a report on Tuesday, November 8th. Piper Jaffray Companies set a $60.00 price target on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a report on Tuesday, November 8th. Finally, Canaccord Genuity set a $45.00 price target on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating to the company’s stock. Michael Kors Holdings Limited currently has an average rating of “Hold” and a consensus target price of $47.64.

In related news, SVP Krista A. Mcdonough sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $48.02, for a total value of $247,591.12. Following the completion of the sale, the senior vice president now owns 6,843 shares of the company’s stock, valued at approximately $328,600.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.00% of the company’s stock.

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.

Want to see what other hedge funds are holding KORS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Michael Kors Holdings Limited (NYSE:KORS).

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Leave a Comment