Michael Kors Stake Ltd (KORS) Holding Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Michael Kors Stake Ltd (KORS) Holding Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 28.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,050 shares of the lifestyle brand’s stock after buying an additional 2,635 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Michael Kors Holdings were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KORS. Flossbach Von Storch AG raised its position in Michael Kors Holdings by 9.1% in the first quarter. Flossbach Von Storch AG now owns 10,606,489 shares of the lifestyle brand’s stock worth $404,213,000 after buying an additional 888,690 shares during the last quarter. AQR Capital Management LLC raised its position in Michael Kors Holdings by 27.2% in the fourth quarter. AQR Capital Management LLC now owns 4,959,319 shares of the lifestyle brand’s stock worth $213,151,000 after buying an additional 1,061,646 shares during the last quarter. APG Asset Management N.V. raised its position in Michael Kors Holdings by 14.9% in the first quarter. APG Asset Management N.V. now owns 4,430,974 shares of the lifestyle brand’s stock worth $168,864,000 after buying an additional 573,062 shares during the last quarter. FMR LLC raised its position in Michael Kors Holdings by 6.1% in the fourth quarter. FMR LLC now owns 4,110,584 shares of the lifestyle brand’s stock worth $176,673,000 after buying an additional 234,812 shares during the last quarter. Finally, Norges Bank purchased a new position in Michael Kors Holdings during the fourth quarter worth $130,969,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Shares of Michael Kors Holdings Ltd (KORS) opened at 33.05 on Monday. The company has a 50-day moving average of $36.74 and a 200 day moving average of $40.26. Michael Kors Holdings Ltd has a one year low of $32.38 and a one year high of $53.29. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 7.55 and a beta of 0.70.

Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Michael Kors Holdings had a return on equity of 41.96% and a net margin of 16.59%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities analysts forecast that Michael Kors Holdings Ltd will post $3.61 earnings per share for the current fiscal year.

KORS has been the subject of a number of recent analyst reports. Cowen and Company dropped their price target on shares of Michael Kors Holdings to $40.00 in a research report on Wednesday, February 8th. Piper Jaffray Companies dropped their price target on shares of Michael Kors Holdings to $34.00 in a research report on Wednesday, February 8th. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 price target on shares of Michael Kors Holdings in a research report on Tuesday, February 7th. Jefferies Group LLC set a $65.00 price target on shares of Michael Kors Holdings and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $50.00 price target (down from $56.00) on shares of Michael Kors Holdings in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.84.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “KORS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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