Michael Kors Holdings Ltd (KORS) Position Cut by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC lessened its holdings in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,294 shares of the lifestyle brand’s stock after selling 125,667 shares during the quarter. Stone Ridge Asset Management LLC owned about 0.09% of Michael Kors worth $4,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. IFM Investors Pty Ltd grew its holdings in Michael Kors by 3.5% during the 4th quarter. IFM Investors Pty Ltd now owns 8,891 shares of the lifestyle brand’s stock valued at $337,000 after buying an additional 301 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Michael Kors by 13.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,695 shares of the lifestyle brand’s stock valued at $216,000 after buying an additional 683 shares in the last quarter. Fort L.P. grew its holdings in Michael Kors by 51.3% during the 4th quarter. Fort L.P. now owns 2,687 shares of the lifestyle brand’s stock valued at $102,000 after buying an additional 911 shares in the last quarter. Rational Advisors LLC grew its holdings in Michael Kors by 1,870.7% during the 4th quarter. Rational Advisors LLC now owns 1,143 shares of the lifestyle brand’s stock valued at $43,000 after buying an additional 1,085 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Michael Kors by 4.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 25,326 shares of the lifestyle brand’s stock valued at $840,000 after buying an additional 1,100 shares in the last quarter. 86.89% of the stock is currently owned by institutional investors.

KORS opened at $45.93 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.71. The firm has a market cap of $6.95 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 1.22 and a beta of 0.49. Michael Kors Holdings Ltd has a 52-week low of $35.68 and a 52-week high of $75.96.

Several equities analysts have weighed in on KORS shares. Jefferies Financial Group set a $60.00 price target on Michael Kors and gave the company a “buy” rating in a report on Thursday, December 20th. ValuEngine cut Michael Kors from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 20th. TheStreet cut Michael Kors from a “b-” rating to a “c+” rating in a report on Thursday, December 6th. Wells Fargo & Co cut their price target on Michael Kors from $50.00 to $45.00 and set a “market perform” rating for the company in a report on Wednesday, January 2nd. Finally, Nomura set a $76.00 price target on Michael Kors and gave the company a “buy” rating in a report on Monday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $71.21.

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Michael Kors Profile

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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