Accident Compensation Corp trimmed its holdings in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,717 shares of the lifestyle brand’s stock after selling 24,500 shares during the period. Michael Kors comprises approximately 1.7% of Accident Compensation Corp’s holdings, making the stock its 15th biggest holding. Accident Compensation Corp’s holdings in Michael Kors were worth $6,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Mutuals Advisors Inc. purchased a new position in shares of Michael Kors during the 4th quarter worth approximately $100,000. Cerebellum GP LLC purchased a new position in shares of Michael Kors during the 4th quarter worth approximately $126,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Michael Kors during the 4th quarter worth approximately $190,000. CAPROCK Group Inc. purchased a new position in shares of Michael Kors during the 4th quarter worth approximately $219,000. Finally, IFP Advisors Inc increased its stake in shares of Michael Kors by 29.5% during the 4th quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock worth $216,000 after purchasing an additional 781 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Michael Kors Holdings Ltd (NYSE:KORS) opened at $59.80 on Monday. The firm has a market cap of $9,099.59, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.74 and a beta of 0.08. Michael Kors Holdings Ltd has a 1-year low of $32.38 and a 1-year high of $69.95. The company has a quick ratio of 1.34, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.

Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.48. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. equities research analysts expect that Michael Kors Holdings Ltd will post 4.48 earnings per share for the current year.

A number of brokerages recently issued reports on KORS. Robert W. Baird restated a “hold” rating on shares of Michael Kors in a research report on Monday, February 5th. Cowen set a $71.00 target price on shares of Michael Kors and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Barclays set a $75.00 target price on shares of Michael Kors and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America raised their target price on shares of Michael Kors from $58.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Piper Jaffray Companies restated a “hold” rating and set a $72.00 target price on shares of Michael Kors in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $62.32.

In related news, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the transaction, the senior vice president now owns 10,081 shares in the company, valued at approximately $604,960.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the transaction, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

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Michael Kors 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.

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

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