Ardevora Asset Management LLP Takes Position in Michael Kors Holdings Limited (KORS)

Ardevora Asset Management LLP acquired a new position in Michael Kors Holdings Limited (NYSE:KORS) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 775,100 shares of the lifestyle brand’s stock, valued at approximately $37,089,000. Michael Kors Holdings Limited makes up 1.1% of Ardevora Asset Management LLP’s holdings, making the stock its 28th biggest holding. Ardevora Asset Management LLP owned 0.51% of Michael Kors Holdings Limited at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Balasa Dinverno & Foltz LLC lifted its holdings in Michael Kors Holdings Limited by 19.3% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after buying an additional 1,404 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Michael Kors Holdings Limited by 17.4% in the 2nd quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after buying an additional 357,661 shares in the last quarter. Legal & General Group Plc lifted its holdings in Michael Kors Holdings Limited by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock worth $29,663,000 after buying an additional 39,949 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Michael Kors Holdings Limited by 9,030.5% in the 2nd quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after buying an additional 248,340 shares in the last quarter. Finally, ARGA Investment Management LP lifted its holdings in Michael Kors Holdings Limited by 6.1% in the 2nd quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock worth $51,121,000 after buying an additional 81,000 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded down $0.62 during trading hours on Tuesday, hitting $54.09. 2,254,200 shares of the stock were exchanged, compared to its average volume of 2,530,997. The firm has a market cap of $8,319.57, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.84 and a beta of 0.05. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $55.25.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.50. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. sell-side analysts expect that Michael Kors Holdings Limited will post 3.96 earnings per share for the current year.

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A number of equities analysts have commented on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $46.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a report on Wednesday, August 9th. Canaccord Genuity boosted their price objective on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Cowen and Company reiterated a “market perform” rating and issued a $45.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a report on Thursday, August 10th. Bank of America Corporation reiterated a “neutral” rating and issued a $58.00 price objective on shares of Michael Kors Holdings Limited in a report on Tuesday, November 7th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Michael Kors Holdings Limited in a research note on Friday. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Michael Kors Holdings Limited has a consensus rating of “Hold” and a consensus target price of $49.84.

In other news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total value of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director M William Benedetto sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the completion of the sale, the director now directly owns 18,662 shares of the company’s stock, valued at $1,000,283.20. The disclosure for this sale can be found here. Corporate insiders own 6.00% 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.

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

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