The Michael Kors Holdings Ltd. (KORS) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

The Michael Kors Holdings Ltd. (KORS) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Michael Kors Holdings Ltd. (NYSE:KORS) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 26,980 shares of the lifestyle brand’s stock after buying an additional 176 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Michael Kors Holdings were worth $1,262,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KORS. South Texas Money Management Ltd. increased its stake in Michael Kors Holdings by 3.8% in the second quarter. South Texas Money Management Ltd. now owns 367,867 shares of the lifestyle brand’s stock worth $18,202,000 after buying an additional 13,457 shares during the last quarter. Thompson Investment Management Inc. increased its stake in Michael Kors Holdings by 7.0% in the second quarter. Thompson Investment Management Inc. now owns 7,625 shares of the lifestyle brand’s stock worth $377,000 after buying an additional 500 shares during the last quarter. Boston Advisors LLC bought a new stake in Michael Kors Holdings during the third quarter worth about $10,769,000. Wilsey Asset Management Inc. increased its stake in Michael Kors Holdings by 0.3% in the third quarter. Wilsey Asset Management Inc. now owns 149,865 shares of the lifestyle brand’s stock worth $7,006,000 after buying an additional 500 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Michael Kors Holdings by 52.3% in the third quarter. Nationwide Fund Advisors now owns 476,989 shares of the lifestyle brand’s stock worth $22,318,000 after buying an additional 163,892 shares during the last quarter. Institutional investors own 88.47% of the company’s stock.

Shares of Michael Kors Holdings Ltd. (NYSE:KORS) traded down 2.78% during midday trading on Thursday, hitting $42.03. 1,935,193 shares of the stock traded hands. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 9.58 and a beta of 0.77. The firm’s 50-day moving average is $44.88 and its 200 day moving average is $48.20. Michael Kors Holdings Ltd. has a 52 week low of $36.43 and a 52 week high of $59.49.

Michael Kors Holdings (NYSE:KORS) last released its quarterly earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. Michael Kors Holdings had a net margin of 16.94% and a return on equity of 42.50%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Michael Kors Holdings’s revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Michael Kors Holdings Ltd. will post $4.40 earnings per share for the current year.

Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Michael Kors Holdings from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Thursday, October 27th. Vetr upgraded shares of Michael Kors Holdings from a “buy” rating to a “strong-buy” rating and set a $52.44 price target on the stock in a research note on Monday, October 3rd. Finally, assumed coverage on shares of Michael Kors Holdings in a research note on Wednesday, September 28th. They set a “sell” rating and a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and six have issued a buy rating to the company. Michael Kors Holdings presently has an average rating of “Hold” and a consensus target price of $52.25.

In other Michael Kors Holdings news, SVP Krista A. Mcdonough sold 5,156 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $48.02, for a total transaction of $247,591.12. Following the sale, the senior vice president now directly owns 6,843 shares in the company, valued at $328,600.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.00% of the company’s stock.

About Michael Kors Holdings

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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