Jennison Associates LLC Invests $1.78 Million in Michael Kors Holdings Ltd (KORS) Stock

Jennison Associates LLC bought a new stake in Michael Kors Holdings Ltd (NYSE:KORS) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 28,301 shares of the lifestyle brand’s stock, valued at approximately $1,782,000.

Other large investors have also recently bought and sold shares of the company. APG Asset Management N.V. grew its position in Michael Kors by 0.5% in the 3rd quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock worth $213,132,000 after purchasing an additional 23,200 shares during the last quarter. Schroder Investment Management Group grew its position in Michael Kors by 0.8% in the 3rd quarter. Schroder Investment Management Group now owns 2,429,162 shares of the lifestyle brand’s stock worth $115,895,000 after purchasing an additional 19,006 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Michael Kors by 29.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock worth $57,918,000 after purchasing an additional 277,810 shares during the last quarter. Bank of Montreal Can grew its position in Michael Kors by 568.5% in the 4th 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 last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Michael Kors by 0.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 977,558 shares of the lifestyle brand’s stock worth $61,538,000 after purchasing an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Shares of Michael Kors Holdings Ltd (KORS) traded up $1.36 during midday trading on Monday, reaching $61.16. 1,783,015 shares of the company were exchanged, compared to its average volume of 2,354,031. The firm has a market capitalization of $9,099.61, a PE ratio of 18.15, a P/E/G ratio of 1.74 and a beta of 0.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. Michael Kors Holdings Ltd has a 52-week low of $32.38 and a 52-week high of $69.95.

Michael Kors (NYSE:KORS) last issued its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.48. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share. analysts forecast that Michael Kors Holdings Ltd will post 4.48 EPS for the current year.

In other news, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the sale, the senior vice president now owns 10,081 shares of the company’s stock, valued at $604,960.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the sale, the senior vice president now directly owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Several analysts have issued reports on KORS shares. Citigroup assumed coverage on shares of Michael Kors in a research report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target on the stock. Susquehanna Bancshares assumed coverage on shares of Michael Kors in a research report on Thursday, November 2nd. They set a “positive” rating and a $62.00 target price on the stock. Zacks Investment Research lowered shares of Michael Kors from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Goldman Sachs Group began coverage on shares of Michael Kors in a research report on Tuesday, December 5th. They set a “buy” rating and a $70.00 target price on the stock. Finally, ValuEngine raised shares of Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Michael Kors has a consensus rating of “Hold” and a consensus price target of $62.32.

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About Michael Kors

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.

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

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