United Services Automobile Association decreased its holdings in Michael Kors Holdings Ltd (NYSE:KORS) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 103,485 shares of the lifestyle brand’s stock after selling 3,593 shares during the quarter. United Services Automobile Association’s holdings in Michael Kors were worth $7,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KORS. AMP Capital Investors Ltd grew its position in shares of Michael Kors by 8.5% in the second quarter. AMP Capital Investors Ltd now owns 273,946 shares of the lifestyle brand’s stock valued at $18,246,000 after purchasing an additional 21,554 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Michael Kors by 42.5% in the second quarter. Voya Investment Management LLC now owns 108,969 shares of the lifestyle brand’s stock valued at $7,258,000 after purchasing an additional 32,494 shares during the last quarter. Fulton Bank N.A. grew its position in shares of Michael Kors by 7.9% in the third quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock valued at $863,000 after purchasing an additional 918 shares during the last quarter. Swiss National Bank grew its position in shares of Michael Kors by 3.1% in the second quarter. Swiss National Bank now owns 503,100 shares of the lifestyle brand’s stock valued at $33,506,000 after purchasing an additional 15,100 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Michael Kors by 537.5% in the second quarter. Bank of Nova Scotia now owns 123,756 shares of the lifestyle brand’s stock valued at $8,241,000 after purchasing an additional 104,344 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

NYSE KORS opened at $38.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.71. Michael Kors Holdings Ltd has a fifty-two week low of $38.10 and a fifty-two week high of $75.96. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.32.

Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $72.99, for a total transaction of $10,948,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Krista A. Mcdonough sold 3,000 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $42.62, for a total value of $127,860.00. Following the sale, the senior vice president now owns 2,423 shares of the company’s stock, valued at $103,268.26. The disclosure for this sale can be found here. Insiders have sold 519,516 shares of company stock valued at $36,945,527 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

KORS has been the topic of several research reports. Canaccord Genuity set a $80.00 target price on Michael Kors and gave the company a “buy” rating in a research report on Thursday, November 8th. Buckingham Research upped their target price on Michael Kors from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Piper Jaffray Companies set a $68.00 price target on Michael Kors and gave the stock a “buy” rating in a research report on Thursday, November 8th. Nomura set a $76.00 price target on Michael Kors and gave the stock a “buy” rating in a research report on Monday, November 26th. Finally, UBS Group raised Michael Kors from a “neutral” rating to a “buy” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.04.

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Michael Kors Profile

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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