Robeco Institutional Asset Management B.V. Boosts Position in Michael Kors Holdings (KORS)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Michael Kors Holdings (NYSE:KORS) by 72.3% during the 1st quarter, Holdings Channel reports. The firm owned 1,184,392 shares of the lifestyle brand’s stock after acquiring an additional 497,056 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Michael Kors were worth $73,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc lifted its holdings in Michael Kors by 29.5% during the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after purchasing an additional 781 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Michael Kors by 3.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 31,313 shares of the lifestyle brand’s stock valued at $1,971,000 after purchasing an additional 915 shares during the last quarter. Arizona State Retirement System lifted its holdings in Michael Kors by 2.5% during the fourth quarter. Arizona State Retirement System now owns 38,531 shares of the lifestyle brand’s stock valued at $2,426,000 after purchasing an additional 931 shares during the last quarter. Global X Management Co. LLC lifted its holdings in Michael Kors by 29.5% during the fourth quarter. Global X Management Co. LLC now owns 4,097 shares of the lifestyle brand’s stock valued at $258,000 after purchasing an additional 934 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in Michael Kors by 66.8% during the first quarter. Jacobi Capital Management LLC now owns 2,627 shares of the lifestyle brand’s stock valued at $163,000 after purchasing an additional 1,052 shares during the last quarter. 85.16% of the stock is currently owned by institutional investors and hedge funds.

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Shares of NYSE KORS opened at $62.38 on Thursday. 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 company has a market cap of $9.34 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.84 and a beta of 0.15.

Michael Kors (NYSE:KORS) last issued its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $1.64 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. equities research analysts predict that Michael Kors Holdings will post 4.49 EPS for the current fiscal year.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $66.23, for a total transaction of $9,934,500.00. Following the transaction, the chief executive officer now directly owns 1,774,643 shares in the company, valued at $117,534,605.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen F. Reitman sold 6,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $62.47, for a total transaction of $406,055.00. The disclosure for this sale can be found here. Insiders have sold 707,090 shares of company stock worth $44,481,782 over the last quarter. Company insiders own 6.00% of the company’s stock.

KORS has been the topic of a number of recent analyst reports. Robert W. Baird set a $62.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Sunday, January 21st. Barclays increased their price target on shares of Michael Kors from $58.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Jefferies Group reissued a “buy” rating and issued a $90.00 price target on shares of Michael Kors in a report on Wednesday, February 7th. OTR Global raised shares of Michael Kors to a “positive” rating in a report on Tuesday, January 30th. Finally, Wolfe Research increased their price target on shares of Michael Kors from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.07.

About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.

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Institutional Ownership by Quarter for Michael Kors (NYSE:KORS)

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