Candriam Luxembourg S.C.A. grew its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 69.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,695 shares of the lifestyle brand’s stock after purchasing an additional 88,935 shares during the quarter. Candriam Luxembourg S.C.A. owned approximately 0.14% of Michael Kors Holdings Limited worth $10,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KORS. Pacer Advisors Inc. purchased a new stake in Michael Kors Holdings Limited in the second quarter worth about $114,000. Sandy Spring Bank lifted its stake in Michael Kors Holdings Limited by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after acquiring an additional 40 shares during the period. TrimTabs Asset Management LLC lifted its stake in Michael Kors Holdings Limited by 105.1% in the second 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 during the period. Creative Planning lifted its stake in Michael Kors Holdings Limited by 30.8% in the second quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after acquiring an additional 1,180 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Michael Kors Holdings Limited in the second quarter worth about $188,000. 84.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded up $0.18 on Friday, hitting $54.71. The company’s stock had a trading volume of 2,617,800 shares, compared to its average volume of 3,033,369. Michael Kors Holdings Limited has a twelve month low of $32.38 and a twelve month high of $55.25. The firm has a market cap of $8,319.59, a P/E ratio of 12.16, a PEG ratio of 1.85 and a beta of 0.05.

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

In related news, CEO John D. Idol sold 500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

WARNING: “Michael Kors Holdings Limited (KORS) Stake Increased by Candriam Luxembourg S.C.A.” was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://theolympiareport.com/2017/11/12/michael-kors-holdings-limited-kors-stake-increased-by-candriam-luxembourg-s-c-a.html.

KORS has been the subject of a number of research reports. BidaskClub raised shares of Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Cowen and Company reaffirmed a “market perform” rating and issued a $35.00 price objective on shares of Michael Kors Holdings Limited in a research note on Wednesday, July 26th. Canaccord Genuity set a $33.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Credit Suisse Group set a $36.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Finally, Buckingham Research set a $34.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.84.

Michael Kors Holdings Limited Profile

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)

Receive News & Ratings for Michael Kors Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.