Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Michael Kors Holdings Limited (NYSE:KORS) by 18.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,536 shares of the lifestyle brand’s stock after purchasing an additional 6,362 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Michael Kors Holdings Limited were worth $1,469,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. NINE MASTS CAPITAL Ltd bought a new stake in shares of Michael Kors Holdings Limited in the 1st quarter valued at about $149,000. Ameritas Investment Partners Inc. bought a new position in shares of Michael Kors Holdings Limited during the 1st quarter worth approximately $154,000. Sandy Spring Bank raised its stake in shares of Michael Kors Holdings Limited by 23.5% during the 1st quarter. Sandy Spring Bank now owns 4,310 shares of the lifestyle brand’s stock worth $164,000 after acquiring an additional 820 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Michael Kors Holdings Limited by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after acquiring an additional 2,325 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 83.39% of the company’s stock.

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Shares of Michael Kors Holdings Limited (KORS) opened at 42.45 on Wednesday. The stock has a market capitalization of $6.43 billion and a P/E ratio of 13.02. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The company’s 50-day moving average is $40.01 and its 200-day moving average is $37.35.

Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. The business had revenue of $952.40 million for the quarter, compared to analysts’ expectations of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, equities research analysts anticipate that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.

Michael Kors Holdings Limited declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the lifestyle brand to repurchase up to 18.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several research analysts recently commented on KORS shares. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (down previously from $40.00) on shares of Michael Kors Holdings Limited in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Telsey Advisory Group boosted their price objective on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 9th. BMO Capital Markets set a $35.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, Cowen and Company reiterated a “market perform” rating and set a $45.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.77.

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.

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

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