Brandywine Global Investment Management LLC grew its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,142 shares of the lifestyle brand’s stock after acquiring an additional 4,186 shares during the period. Brandywine Global Investment Management LLC owned about 0.12% of Michael Kors worth $11,152,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Jefferies Group LLC lifted its stake in shares of Michael Kors by 17.2% during the 4th quarter. Jefferies Group LLC now owns 13,666 shares of the lifestyle brand’s stock valued at $860,000 after buying an additional 2,003 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Michael Kors by 134.6% during the 4th quarter. Advisor Group Inc. now owns 46,625 shares of the lifestyle brand’s stock valued at $2,935,000 after buying an additional 26,748 shares in the last quarter. Shellback Capital LP lifted its stake in shares of Michael Kors by 42.9% during the 4th quarter. Shellback Capital LP now owns 200,000 shares of the lifestyle brand’s stock valued at $12,590,000 after buying an additional 60,000 shares in the last quarter. Fred Alger Management Inc. purchased a new stake in shares of Michael Kors during the 4th quarter valued at approximately $3,706,000. Finally, BlueCrest Capital Management Ltd lifted its stake in shares of Michael Kors by 223.0% during the 4th quarter. BlueCrest Capital Management Ltd now owns 160,647 shares of the lifestyle brand’s stock valued at $10,113,000 after buying an additional 110,906 shares in the last quarter. 85.48% of the stock is owned by hedge funds and other institutional investors.
Michael Kors Holdings Ltd (KORS) opened at $62.28 on Wednesday. The company has a market cap of $9,480.00, a price-to-earnings ratio of 18.05, a PEG ratio of 1.96 and a beta of 0.13. Michael Kors Holdings Ltd has a twelve month low of $32.38 and a twelve month high of $69.95. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.
In related news, CEO John D. Idol sold 150,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.26, for a total transaction of $9,339,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director M William Benedetto sold 4,000 shares of the stock in a transaction on Friday, February 16th. The shares were 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. In the last ninety days, insiders have sold 407,090 shares of company stock worth $25,116,782. 6.00% of the stock is owned by insiders.
A number of analysts recently commented on KORS shares. Goldman Sachs Group started coverage on shares of Michael Kors in a research note on Tuesday, December 5th. They set a “buy” rating and a $70.00 price target on the stock. ValuEngine upgraded shares of Michael Kors from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Oppenheimer upped their price target on shares of Michael Kors from $62.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Zacks Investment Research cut shares of Michael Kors from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Credit Suisse Group started coverage on shares of Michael Kors in a research note on Monday. They issued an “outperform” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.46.
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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.
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