GAM Holding AG Has $1.17 Million Stake in Michael Kors Holdings Ltd (KORS)

GAM Holding AG reduced its holdings in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 31.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,124 shares of the lifestyle brand’s stock after selling 7,978 shares during the quarter. GAM Holding AG’s holdings in Michael Kors were worth $1,174,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. AMP Capital Investors Ltd boosted its position in shares of Michael Kors by 8.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 273,946 shares of the lifestyle brand’s stock worth $18,246,000 after acquiring an additional 21,554 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Michael Kors by 42.5% during the 2nd quarter. Voya Investment Management LLC now owns 108,969 shares of the lifestyle brand’s stock worth $7,258,000 after acquiring an additional 32,494 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Michael Kors by 7.9% during the 3rd quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock worth $863,000 after acquiring an additional 918 shares in the last quarter. Swiss National Bank boosted its position in shares of Michael Kors by 3.1% during the 2nd quarter. Swiss National Bank now owns 503,100 shares of the lifestyle brand’s stock worth $33,506,000 after acquiring an additional 15,100 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Michael Kors by 537.5% during the 2nd quarter. Bank of Nova Scotia now owns 123,756 shares of the lifestyle brand’s stock worth $8,241,000 after acquiring an additional 104,344 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Michael Kors stock opened at $40.48 on Friday. Michael Kors Holdings Ltd has a fifty-two week low of $40.40 and a fifty-two week high of $75.96. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $6.45 billion, a PE ratio of 8.60, a PEG ratio of 1.38 and a beta of 0.32.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. On average, equities research analysts expect that Michael Kors Holdings Ltd will post 5.02 EPS for the current year.

Several research analysts have recently issued reports on the company. Nomura set a $76.00 price objective on Michael Kors and gave the stock a “buy” rating in a research report on Monday, November 26th. ValuEngine cut Michael Kors from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 20th. CIBC reaffirmed a “market perform” rating on shares of Michael Kors in a research report on Friday, November 16th. Oppenheimer cut Michael Kors from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a research report on Friday, November 16th. Finally, UBS Group cut Michael Kors from an “outperform” rating to a “market perform” rating in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.04.

In other Michael Kors news, insider Michael David Kors sold 179,920 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total transaction of $13,245,710.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Krista A. Mcdonough sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $42.62, for a total value of $127,860.00. Following the sale, the senior vice president now directly owns 2,423 shares of the company’s stock, valued at $103,268.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 519,516 shares of company stock valued at $36,945,527. 6.00% of the stock is owned by company insiders.

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

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