Putnam Investments LLC increased its position in Michael Kors Holdings Ltd (NYSE:KORS) by 18.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,239 shares of the lifestyle brand’s stock after purchasing an additional 56,956 shares during the period. Putnam Investments LLC owned approximately 0.25% of Michael Kors worth $24,725,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV lifted its stake in Michael Kors by 5.1% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 16,121 shares of the lifestyle brand’s stock valued at $1,074,000 after acquiring an additional 780 shares during the period. LMR Partners LLP lifted its stake in Michael Kors by 19.5% during the 2nd quarter. LMR Partners LLP now owns 5,072 shares of the lifestyle brand’s stock valued at $338,000 after acquiring an additional 827 shares during the period. World Asset Management Inc lifted its stake in Michael Kors by 9.2% during the 2nd quarter. World Asset Management Inc now owns 10,631 shares of the lifestyle brand’s stock valued at $708,000 after acquiring an additional 896 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Michael Kors by 2.2% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,154 shares of the lifestyle brand’s stock valued at $2,874,000 after acquiring an additional 934 shares during the period. Finally, Oakbrook Investments LLC lifted its stake in Michael Kors by 9.3% during the 2nd quarter. Oakbrook Investments LLC now owns 11,600 shares of the lifestyle brand’s stock valued at $773,000 after acquiring an additional 990 shares during the period. Institutional investors own 86.57% of the company’s stock.

Shares of KORS opened at $73.36 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. Michael Kors Holdings Ltd has a 1 year low of $44.29 and a 1 year high of $75.96. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.13 and a beta of 0.11.

Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.37. Michael Kors had a net margin of 13.14% and a return on equity of 39.01%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 26.3% on a year-over-year basis. analysts forecast that Michael Kors Holdings Ltd will post 5.01 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on KORS shares. Robert W. Baird set a $74.00 price target on shares of Michael Kors and gave the company a “hold” rating in a research report on Tuesday, May 29th. Canaccord Genuity set a $84.00 price target on shares of Michael Kors and gave the company a “buy” rating in a research report on Tuesday, May 29th. Citigroup reduced their price target on shares of Michael Kors from $75.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, May 31st. Telsey Advisory Group reduced their price target on shares of Michael Kors from $75.00 to $67.00 and set a “market perform” rating for the company in a research report on Thursday, May 31st. Finally, Deutsche Bank set a $83.00 price target on shares of Michael Kors and gave the company a “buy” rating in a research report on Thursday, May 31st. Seventeen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Michael Kors presently has a consensus rating of “Buy” and a consensus target price of $74.59.

In other news, CEO John D. Idol sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $73.24, for a total transaction of $10,986,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Kors sold 179,920 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $71.35, for a total value of $12,837,292.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 479,920 shares of company stock valued at $34,021,792. Insiders own 6.00% of the company’s stock.

About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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

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