Michael Kors Holdings Ltd (KORS) Holdings Reduced by Meeder Asset Management Inc.

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Meeder Asset Management Inc. lowered its holdings in Michael Kors Holdings Ltd (NYSE:KORS) by 18.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,609 shares of the lifestyle brand’s stock after selling 7,685 shares during the quarter. Meeder Asset Management Inc.’s holdings in Michael Kors were worth $2,373,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in KORS. Signet Financial Management LLC purchased a new position in shares of Michael Kors in the second quarter valued at $140,000. Cerebellum GP LLC purchased a new position in shares of Michael Kors in the third quarter valued at $169,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Michael Kors in the second quarter valued at $200,000. Financial Gravity Wealth Inc. purchased a new position in shares of Michael Kors in the third quarter valued at $203,000. Finally, Conning Inc. purchased a new position in shares of Michael Kors in the second quarter valued at $204,000. 85.53% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on the company. MKM Partners set a $74.00 price target on Michael Kors and gave the company a “hold” rating in a research report on Thursday, August 9th. Guggenheim restated a “hold” rating on shares of Michael Kors in a research report on Tuesday, September 25th. Barclays raised their price target on Michael Kors from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, August 9th. Needham & Company LLC lifted their price objective on Michael Kors from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies set a $71.00 price objective on Michael Kors and gave the stock a “hold” rating in a research report on Friday, August 17th. Fifteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $75.52.

In other Michael Kors news, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $71.35, for a total value of $12,837,292.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John D. Idol sold 6,676 shares of Michael Kors stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $65.26, for a total value of $435,675.76. The disclosure for this sale can be found here. Insiders sold a total of 846,436 shares of company stock valued at $60,640,959 in the last 90 days. 6.00% of the stock is owned by company insiders.

KORS opened at $57.45 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 0.63. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.84 and a beta of 0.39. Michael Kors Holdings Ltd has a 12 month low of $53.37 and a 12 month high of $75.96.

Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, beating the consensus estimate of $0.95 by $0.37. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts forecast that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

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Michael Kors Company 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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