Michael Kors Hldgs LTD (KORS) Stake Has Raised by D-E Shaw & Company Inc; As Cbs (CBS) Market Value Declined, Shareholder Westchester Capital Management Has Decreased Stake by $11.86 Million

June 23, 2018 - By Dolores Ford

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Westchester Capital Management Llc decreased its stake in Cbs Corporation (CBS) by 86.2% based on its latest 2018Q1 regulatory filing with the SEC. Westchester Capital Management Llc sold 232,475 shares as the company’s stock declined 8.46% with the market. The institutional investor held 37,225 shares of the broadcasting company at the end of 2018Q1, valued at $1.91M, down from 269,700 at the end of the previous reported quarter. Westchester Capital Management Llc who had been investing in Cbs Corporation for a number of months, seems to be less bullish one the $21.52 billion market cap company. The stock increased 0.53% or $0.3 during the last trading session, reaching $56.7. About 5.92 million shares traded or 52.23% up from the average. CBS Corporation (NYSE:CBS) has declined 17.26% since June 23, 2017 and is downtrending. It has underperformed by 29.83% the S&P500. Some Historical CBS News: 17/05/2018 – CBS CBS.N TO CHALLENGE IN COURT NATIONAL AMUSEMENTS INC’S CHANGE TO BYLAWS REQUIRING SUPER MAJORITY VOTE ON DIVIDEND; 24/05/2018 – SCRIPPS RENEWS CBS AFFILIATION PACT IN NASHVILLE; 13/03/2018 – New York Post: Elton John tribute concert heading to CBS next month; 02/05/2018 – WBZ | CBS Boston News: #BREAKING: Southwest Airlines plane with cracked window makes emergency landing in Cleveland; 30/05/2018 – Shari Redstone’s endgame for CBS and Viacom is clear in a new complaint. Via @edmundlee:; 15/03/2018 – Mark R. Warner: CBS This Morning: Expert warns of “terrifying” potential of digitally-altered video; 17/05/2018 – CBS to challenge National Amusement’s move to change bylaws; 27/04/2018 – KFMB-TV: Inside *NSYNC’s Pop-Up Shop With JC Chasez (Exclusive) – CBS News 8 – San Diego, CA News Station – KFMB Channel 8; 16/05/2018 – NAI ASKS CBS BOARD TO ALTER BYLAWS TO HELP REDSTONES KEEP REINS; 03/04/2018 – CNBC Now: BREAKING: CBS has submitted big for Viacom that is below its market value; CBS special committee wants Moonves,

David Shaw increased its stake in Michael Kors Hldgs Ltd (KORS) by 2130.7% based on its latest 2018Q1 regulatory filing with the SEC. D-E Shaw & Company Inc bought 366,480 shares as the company’s stock rose 5.76% while stock markets declined. The hedge fund run by David Shaw held 383,680 shares of the apparel company at the end of 2018Q1, valued at $23.82 million, up from 17,200 at the end of the previous reported quarter. D-E Shaw & Company Inc who had been investing in Michael Kors Hldgs Ltd for a number of months, seems to be bullish on the $9.97B market cap company. The stock decreased 0.95% or $0.64 during the last trading session, reaching $66.63. About 2.84M shares traded or 6.76% up from the average. Michael Kors Holdings Limited (NYSE:KORS) has risen 87.39% since June 23, 2017 and is uptrending. It has outperformed by 74.82% the S&P500. Some Historical KORS News: 18/04/2018 – CGTN: Exclusive interview: fashion designer Michael Kors “walks” and “talks” in Shanghai #MichaelKors…; 30/05/2018 – Michael Kors 4Q EPS 29c; 29/05/2018 – Michael Kors Holdings Limited Announces Participation at the Baird 2018 Global Consumer, Technology & Services Conference; 13/03/2018 – THIN FILM ELECTRONICS ASA THIN.OL – ENTERED INTO AN AGREEMENT WITH SANKT KORS FASTIGHETS FOR USE OF R2R EQUIPMENT AND FACILITIES; 14/03/2018 – Astound Commerce Expands to Toronto, Enhances Global Reach and Local Expertise in Canada; 30/05/2018 – MICHAEL KORS KORS.N – REVENUE IS EXPECTED TO DECLINE IN AMERICAS AND EUROPE IN FY19 DUE TO REDUCTION IN SHIPMENTS TO DRIVE HIGHER FULL-PRICE SALES; 30/05/2018 – MICHAEL KORS HOLDINGS – FOR MICHAEL KORS, EXPECT GROWTH TO BE LED BY RETAIL BUSINESS IN FISCAL 2019; 30/05/2018 – MICHAEL KORS HOLDINGS LTD KORS.N – QTRLY TOTAL REVENUE INCREASED 10.8% TO $1.18 BLN; 30/05/2018 – MICHAEL KORS HOLDINGS LTD – COMPARABLE SALES FOR MICHAEL KORS ARE EXPECTED TO BE APPROXIMATELY FLAT FOR FISCAL 2019; 30/05/2018 – MICHAEL KORS HOLDINGS LTD QTRLY ADJUSTED NET INCOME ATTRIBUTABLE TO MKHL WAS $96.5 MLN, OR $0.63 PER DILUTED SHARE

More notable recent Michael Kors Holdings Limited (NYSE:KORS) news were published by: Seekingalpha.com which released: “Michael Kors: Wait For The Next Acquisition Move” on June 11, 2018, also Seekingalpha.com with their article: “Michael Kors: Correction Offers An Opportunity To Accumulate” published on June 05, 2018, Nasdaq.com published: “Investor Expectations to Drive Momentum within Unilever, Fibria Celulose SA, Michael Kors, Tuniu, ADT, and Alamos …” on June 07, 2018. More interesting news about Michael Kors Holdings Limited (NYSE:KORS) were released by: Seekingalpha.com and their article: “Michael Kors earnings preview” published on May 29, 2018 as well as Nasdaq.com‘s news article titled: “Mid-Morning Market Update: Markets Open Higher; Michael Kors Beats Q4 Estimates” with publication date: May 30, 2018.

D-E Shaw & Company Inc, which manages about $81.36B and $73.46B US Long portfolio, decreased its stake in Marriott Intl Inc New (Call) (NASDAQ:MAR) by 9,600 shares to 206,600 shares, valued at $28.09 million in 2018Q1, according to the filing. It also reduced its holding in Retail Opportunity Invts Cor (NASDAQ:ROIC) by 129,296 shares in the quarter, leaving it with 12,104 shares, and cut its stake in Packaging Corp Amer (Call) (NYSE:PKG).

Since February 13, 2018, it had 0 buys, and 10 sales for $66.15 million activity. Shares for $387,647 were sold by Robinson Cathy Marie on Monday, June 4. McDonough Krista A sold 12,100 shares worth $794,557. Benedetto M William had sold 4,000 shares worth $255,752 on Friday, February 16. $10.25M worth of Michael Kors Holdings Limited (NYSE:KORS) shares were sold by IDOL JOHN D. On Friday, March 2 the insider Kors Michael David sold $15.12 million.

Among 36 analysts covering Michael Kors Holdings Ltd (NYSE:KORS), 13 have Buy rating, 2 Sell and 21 Hold. Therefore 36% are positive. Michael Kors Holdings Ltd had 136 analyst reports since July 21, 2015 according to SRatingsIntel. The company was maintained on Thursday, February 8 by Needham. On Thursday, June 1 the stock rating was maintained by Jefferies with “Buy”. Susquehanna maintained Michael Kors Holdings Limited (NYSE:KORS) rating on Thursday, February 8. Susquehanna has “Buy” rating and $86.0 target. Morgan Stanley maintained Michael Kors Holdings Limited (NYSE:KORS) on Thursday, May 31 with “Equal-Weight” rating. RBC Capital Markets maintained the shares of KORS in report on Wednesday, February 3 with “Sector Perform” rating. The firm earned “Underweight” rating on Friday, August 7 by Piper Jaffray. On Wednesday, September 27 the stock rating was upgraded by Canaccord Genuity to “Buy”. Canaccord Genuity maintained the stock with “Buy” rating in Monday, February 5 report. The firm has “Market Perform” rating given on Wednesday, February 8 by Telsey Advisory Group. As per Wednesday, August 9, the company rating was maintained by Canaccord Genuity.

Investors sentiment decreased to 1.1 in Q1 2018. Its down 0.34, from 1.44 in 2017Q4. It dived, as 36 investors sold KORS shares while 132 reduced holdings. 58 funds opened positions while 126 raised stakes. 116.43 million shares or 3.07% less from 120.12 million shares in 2017Q4 were reported. State Of New Jersey Common Pension Fund D holds 0.06% or 240,000 shares in its portfolio. Adage Cap Partners Gp Limited Liability Company reported 210,175 shares. Franklin Incorporated invested 0% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS). Sterling Mgmt Llc invested in 66,271 shares. Sandy Spring Bancorp holds 0.02% or 3,749 shares in its portfolio. Walleye Trading Ltd Co invested in 28,746 shares or 0.01% of the stock. Brinker Inc invested in 11,757 shares or 0.03% of the stock. Andra Ap reported 176,500 shares. Gateway Investment Advisers Ltd holds 0.12% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS) for 224,261 shares. Hikari Ltd has invested 0.04% in Michael Kors Holdings Limited (NYSE:KORS). Two Sigma Secs Ltd has 16,453 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh has 0.18% invested in Michael Kors Holdings Limited (NYSE:KORS). Coatue Mngmt Lc invested 0% in Michael Kors Holdings Limited (NYSE:KORS). 13,608 were reported by Commonwealth Of Pennsylvania Public School Empls Retrmt. First Interstate Savings Bank holds 610 shares.

More notable recent CBS Corporation (NYSE:CBS) news were published by: Investorplace.com which released: “Viacom Entered Into Netflix Partnership Because It Had to” on June 22, 2018, also Fool.com with their article: “Revisiting AT&T’s Rationale for Buying Time Warner” published on June 20, 2018, Seekingalpha.com published: “CBS investor files suit against Redstone, NAI” on June 01, 2018. More interesting news about CBS Corporation (NYSE:CBS) were released by: Prnewswire.com and their article: “CBS Corporation To Report Second Quarter 2018 Results On Thursday, August 2” published on June 15, 2018 as well as Bizjournals.com‘s news article titled: “CBS extends deal with Alex Kurtzman to expand ‘Star Trek’ franchise” with publication date: June 19, 2018.

Investors sentiment increased to 0.68 in Q1 2018. Its up 0.09, from 0.59 in 2017Q4. It improved, as 79 investors sold CBS shares while 232 reduced holdings. 62 funds opened positions while 151 raised stakes. 218.74 million shares or 3.33% less from 226.28 million shares in 2017Q4 were reported. Moreover, Convergence Partners Ltd Liability Company has 0% invested in CBS Corporation (NYSE:CBS) for 666 shares. Foster And Motley owns 4,337 shares or 0.04% of their US portfolio. Creative Planning owns 17,335 shares. Canada Pension Plan Investment Board holds 0.03% or 402,463 shares. Capital Int Ca, a California-based fund reported 13,196 shares. Focused Investors Ltd Company reported 2.49 million shares. Private Cap Inc holds 2.42% or 141,530 shares. 2,685 were accumulated by Parallax Volatility Advisers L P. Moneta Group Incorporated Advsr Llc owns 0% invested in CBS Corporation (NYSE:CBS) for 200 shares. Ftb Inc invested in 5,166 shares. Intact Invest Mgmt reported 0.01% in CBS Corporation (NYSE:CBS). Smithfield Co stated it has 1,226 shares or 0.01% of all its holdings. 125,785 are owned by Cs Mckee Lp. Enterprise Corporation invested 0.01% in CBS Corporation (NYSE:CBS). Capital One Association holds 0.05% in CBS Corporation (NYSE:CBS) or 13,172 shares.

Analysts await CBS Corporation (NYSE:CBS) to report earnings on August, 6. They expect $1.12 earnings per share, up 7.69% or $0.08 from last year’s $1.04 per share. CBS’s profit will be $425.07 million for 12.66 P/E if the $1.12 EPS becomes a reality. After $1.34 actual earnings per share reported by CBS Corporation for the previous quarter, Wall Street now forecasts -16.42% negative EPS growth.

Since January 16, 2018, it had 0 buys, and 16 sales for $72.02 million activity. Another trade for 85,000 shares valued at $4.68 million was made by MOONVES LESLIE on Tuesday, February 27. 47,871 shares were sold by Ianniello Joseph R, worth $2.87M. On Friday, June 15 the insider Tu Lawrence sold $1.10 million. $8.85 million worth of CBS Corporation (NYSE:CBS) was sold by Schwartz Gil D on Thursday, June 14.

Among 39 analysts covering CBS Corp (NYSE:CBS), 29 have Buy rating, 0 Sell and 10 Hold. Therefore 74% are positive. CBS Corp had 121 analyst reports since August 6, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, May 3 by Benchmark. The company was maintained on Tuesday, January 2 by Stephens. The stock of CBS Corporation (NYSE:CBS) has “Buy” rating given on Tuesday, October 24 by Needham. The stock of CBS Corporation (NYSE:CBS) earned “Buy” rating by Jefferies on Monday, June 12. The stock has “Buy” rating by Piper Jaffray on Monday, October 23. The firm has “Outperform” rating given on Friday, November 3 by Credit Suisse. Barclays Capital maintained it with “Equal-Weight” rating and $55 target in Friday, October 13 report. Credit Suisse reinitiated the stock with “Outperform” rating in Friday, January 20 report. The firm earned “Buy” rating on Monday, May 21 by Bernstein. Pivotal Research maintained the stock with “Hold” rating in Thursday, February 16 report.

CBS Corporation (NYSE:CBS) Institutional Positions Chart

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