New Mexico Educational Retirement Board reduced its holdings in Michael Kors Holdings Ltd (NYSE:KORS) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,700 shares of the lifestyle brand’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Michael Kors were worth $482,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of KORS. Quantamental Technologies LLC purchased a new position in shares of Michael Kors in the fourth quarter worth $227,000. State of New Jersey Common Pension Fund D raised its stake in shares of Michael Kors by 253.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 530,000 shares of the lifestyle brand’s stock worth $20,098,000 after purchasing an additional 380,000 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Michael Kors by 3.5% in the fourth quarter. IFM Investors Pty Ltd now owns 8,891 shares of the lifestyle brand’s stock worth $337,000 after purchasing an additional 301 shares during the last quarter. NuWave Investment Management LLC raised its stake in shares of Michael Kors by 23,944.8% in the fourth quarter. NuWave Investment Management LLC now owns 13,946 shares of the lifestyle brand’s stock worth $528,000 after purchasing an additional 13,888 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Michael Kors by 54.2% in the fourth quarter. Bank of Montreal Can now owns 572,369 shares of the lifestyle brand’s stock worth $21,704,000 after purchasing an additional 201,249 shares during the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.
In other Michael Kors news, SVP Krista A. Mcdonough sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $42.62, for a total transaction of $127,860.00. Following the completion of the sale, the senior vice president now owns 2,423 shares of the company’s stock, valued at $103,268.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.
Shares of KORS opened at $46.03 on Friday. 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 one year low of $35.68 and a one year high of $75.96. The firm has a market capitalization of $6.92 billion, a P/E ratio of 10.18, a PEG ratio of 1.22 and a beta of 0.49.
Michael Kors (NYSE:KORS) last issued its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. Michael Kors’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Michael Kors from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Buckingham Research decreased their price target on Michael Kors from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. Piper Jaffray Companies upgraded Michael Kors from a “neutral” rating to an “overweight” rating and set a $71.00 price target for the company in a research note on Friday, November 2nd. UBS Group upgraded Michael Kors from a “neutral” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, Deutsche Bank decreased their price target on Michael Kors from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Michael Kors presently has an average rating of “Hold” and a consensus target price of $71.21.
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About Michael Kors
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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