Renaissance Technologies LLC Buys 303,800 Shares of Michael Kors Holdings Limited (KORS)

Renaissance Technologies LLC lifted its stake in Michael Kors Holdings Limited (NYSE:KORS) by 95.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 621,000 shares of the lifestyle brand’s stock after buying an additional 303,800 shares during the quarter. Renaissance Technologies LLC owned about 0.40% of Michael Kors Holdings Limited worth $22,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Michael Kors Holdings Limited in the second quarter worth about $114,000. Ameritas Investment Partners Inc. bought a new stake in Michael Kors Holdings Limited during the 1st quarter valued at approximately $154,000. Sandy Spring Bank raised its stake in Michael Kors Holdings Limited by 0.9% during the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares during the period. TrimTabs Asset Management LLC raised its stake in Michael Kors Holdings Limited by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 2,325 shares during the period. Finally, Creative Planning raised its stake in Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after purchasing an additional 1,180 shares during the period. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited (NYSE:KORS) opened at 47.56 on Wednesday. The stock has a 50 day moving average price of $44.74 and a 200-day moving average price of $38.92. The stock has a market cap of $7.21 billion, a PE ratio of 14.59 and a beta of 0.03. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The firm had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. Equities research analysts expect that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

Several brokerages recently issued reports on KORS. Zacks Investment Research raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday. Buckingham Research set a $52.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Friday, October 6th. Robert W. Baird set a $46.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Sunday, October 1st. ValuEngine raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, Canaccord Genuity raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and lifted their target price for the company from $43.00 to $58.00 in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.35.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/11/renaissance-technologies-llc-buys-303800-shares-of-michael-kors-holdings-limited-kors.html.

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Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Michael Kors Holdings Limited in the second quarter worth about $114,000. Ameritas Investment Partners Inc. bought a new stake in Michael Kors Holdings Limited during the 1st quarter valued at approximately $154,000. Sandy Spring Bank raised its stake in Michael Kors Holdings Limited by 0.9% during the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares during the period. TrimTabs Asset Management LLC raised its stake in Michael Kors Holdings Limited by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 2,325 shares during the period. Finally, Creative Planning raised its stake in Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after purchasing an additional 1,180 shares during the period. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited (NYSE:KORS) opened at 47.56 on Wednesday. The stock has a 50 day moving average price of $44.74 and a 200-day moving average price of $38.92. The stock has a market cap of $7.21 billion, a PE ratio of 14.59 and a beta of 0.03. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The firm had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. Equities research analysts expect that Michael Kors Holdings Limited will post $3.71 earnings per share for the current fiscal year.

Several brokerages recently issued reports on KORS. Zacks Investment Research raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday. Buckingham Research set a $52.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Friday, October 6th. Robert W. Baird set a $46.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Sunday, October 1st. ValuEngine raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, Canaccord Genuity raised Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and lifted their target price for the company from $43.00 to $58.00 in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.35.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/11/renaissance-technologies-llc-buys-303800-shares-of-michael-kors-holdings-limited-kors.html.

Michael Kors Holdings Limited Company Profile

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

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