Spark Investment Management LLC bought a new stake in Michael Kors Holdings Ltd (NYSE:KORS) during the fourth quarter, HoldingsChannel reports. The fund bought 81,900 shares of the lifestyle brand’s stock, valued at approximately $5,155,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Mutuals Advisors Inc. bought a new position in Michael Kors in the fourth quarter valued at $100,000. Cerebellum GP LLC bought a new position in Michael Kors in the fourth quarter valued at $126,000. Harvest Fund Management Co. Ltd bought a new position in Michael Kors in the fourth quarter valued at $190,000. IFP Advisors Inc increased its stake in Michael Kors by 29.5% in the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after acquiring an additional 781 shares during the last quarter. Finally, CAPROCK Group Inc. bought a new position in Michael Kors in the fourth quarter valued at $219,000. 76.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at $64.90 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. The firm has a market cap of $9,848.27, a PE ratio of 13.98, a PEG ratio of 2.07 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.
In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $62.26, for a total value of $9,339,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M William Benedetto sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.94, for a total transaction of $255,760.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,335 shares of company stock valued at $10,410,983. 6.00% of the stock is currently owned by company insiders.
A number of research analysts recently commented on the company. MKM Partners raised Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Tuesday, November 7th. ValuEngine raised Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird set a $62.00 target price on Michael Kors and gave the company a “hold” rating in a research note on Sunday, January 21st. Cowen reissued a “hold” rating on shares of Michael Kors in a research note on Friday, November 10th. Finally, Zacks Investment Research raised Michael Kors from a “hold” rating to a “strong-buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $62.32.
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Michael Kors 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.
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