Chevy Chase Trust Holdings Inc. Sells 5,784 Shares of Michael Kors Holdings Limited (KORS)

Chevy Chase Trust Holdings Inc. lowered its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 137,255 shares of the lifestyle brand’s stock after selling 5,784 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Michael Kors Holdings Limited worth $4,976,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Michael Kors Holdings Limited by 2,251.7% in the first quarter. Acadian Asset Management LLC now owns 28,291 shares of the lifestyle brand’s stock worth $1,079,000 after buying an additional 27,088 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Michael Kors Holdings Limited by 783.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 185,271 shares of the lifestyle brand’s stock worth $7,061,000 after buying an additional 164,303 shares during the last quarter. DnB Asset Management AS boosted its position in Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock worth $571,000 after buying an additional 4,400 shares during the last quarter. SFE Investment Counsel boosted its position in Michael Kors Holdings Limited by 20.1% in the first quarter. SFE Investment Counsel now owns 23,050 shares of the lifestyle brand’s stock worth $878,000 after buying an additional 3,850 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in Michael Kors Holdings Limited by 17.7% in the first quarter. Gateway Investment Advisers LLC now owns 269,715 shares of the lifestyle brand’s stock worth $10,279,000 after buying an additional 40,611 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited (KORS) opened at 35.18 on Monday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.69 and a beta of 0.10. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $53.29. The firm has a 50-day moving average of $34.87 and a 200 day moving average of $37.53.

Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $0.98 EPS. Michael Kors Holdings Limited’s quarterly revenue was down 11.2% on a year-over-year basis. On average, analysts anticipate that Michael Kors Holdings Limited will post $3.55 EPS for the current year.

Michael Kors Holdings Limited announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: This piece of content was originally posted by BNB Daily and is owned by of BNB Daily. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.baseball-news-blog.com/2017/07/24/chevy-chase-trust-holdings-inc-sells-5784-shares-of-michael-kors-holdings-limited-kors.html.

A number of research firms have commented on KORS. Deutsche Bank AG decreased their target price on shares of Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, April 25th. Zacks Investment Research cut shares of Michael Kors Holdings Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Jefferies Group LLC set a $65.00 target price on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a research report on Monday, April 10th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $39.00 target price (down previously from $42.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, May 24th. Finally, BMO Capital Markets set a $38.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Tuesday, April 18th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $39.77.

Michael Kors Holdings Limited Company 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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply