Investors Research Corp purchased a new stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 28,570 shares of the lifestyle brand’s stock, valued at approximately $1,798,000. Michael Kors comprises approximately 1.1% of Investors Research Corp’s investment portfolio, making the stock its 4th largest holding.
Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Michael Kors by 2,006.2% in the fourth quarter. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand’s stock worth $84,511,000 after purchasing an additional 1,278,764 shares during the period. Bank of Montreal Can lifted its position in Michael Kors by 568.5% in the fourth quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock worth $70,246,000 after purchasing an additional 948,966 shares during the period. Acadian Asset Management LLC lifted its position in Michael Kors by 493.5% in the fourth quarter. Acadian Asset Management LLC now owns 939,826 shares of the lifestyle brand’s stock worth $59,163,000 after purchasing an additional 781,460 shares during the period. Ardevora Asset Management LLP bought a new position in Michael Kors in the third quarter worth $37,089,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Michael Kors by 205.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,017,371 shares of the lifestyle brand’s stock worth $64,044,000 after purchasing an additional 684,310 shares during the period. Institutional investors own 76.33% of the company’s stock.
Shares of Michael Kors Holdings Ltd (KORS) opened at $62.93 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9,680.89, a PE ratio of 13.74, a P/E/G ratio of 2.03 and a beta of 0.08. Michael Kors Holdings Ltd has a 12-month low of $32.38 and a 12-month high of $69.95.
KORS has been the subject of a number of analyst reports. Robert W. Baird set a $58.00 price objective on Michael Kors and gave the company a “hold” rating in a report on Friday, December 22nd. Royal Bank of Canada set a $71.00 price objective on Michael Kors and gave the company a “hold” rating in a report on Thursday, February 8th. Bank of America lifted their price objective on Michael Kors from $58.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Piper Jaffray Companies reissued a “hold” rating and set a $72.00 price objective on shares of Michael Kors in a report on Monday, February 5th. Finally, ValuEngine raised Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.32.
In related news, Director M William Benedetto sold 4,000 shares of Michael Kors stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.94, for a total value of $255,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen F. Reitman sold 6,500 shares of Michael Kors stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $62.47, for a total value of $406,055.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,335 shares of company stock valued at $10,410,983. Corporate insiders own 6.00% of the company’s stock.
Michael Kors 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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