BlackRock Advisors LLC raised its stake in shares of Kate Spade & Company (NYSE:KATE) by 2.1% during the third quarter, Holdings Channel reports. The institutional investor owned 72,845 shares of the company’s stock after buying an additional 1,479 shares during the period. BlackRock Advisors LLC owned about 0.06% of Kate Spade & Company worth $1,248,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Mycio Wealth Partners LLC boosted its position in shares of Kate Spade & Company by 61.4% in the third quarter. Mycio Wealth Partners LLC now owns 6,310 shares of the company’s stock valued at $108,000 after buying an additional 2,400 shares in the last quarter. Advisor Group Inc. purchased a new position in shares of Kate Spade & Company during the second quarter valued at about $134,000. LS Investment Advisors LLC boosted its position in Kate Spade & Company by 65.5% in the second quarter. LS Investment Advisors LLC now owns 7,875 shares of the company’s stock worth $162,000 after buying an additional 3,118 shares during the period. Invictus RG bought a new position in Kate Spade & Company during the second quarter worth $163,000. Finally, Geduld E E bought a new position in Kate Spade & Company during the third quarter worth $171,000. 99.64% of the stock is owned by institutional investors and hedge funds.
Kate Spade & Company (NYSE:KATE) traded down 2.46% on Friday, hitting $18.21. The company had a trading volume of 1,675,296 shares. Kate Spade & Company has a 12-month low of $14.02 and a 12-month high of $26.46. The firm’s 50 day moving average price is $16.95 and its 200 day moving average price is $17.83. The stock has a market cap of $2.33 billion, a P/E ratio of 18.26 and a beta of 1.63.
Kate Spade & Company (NYSE:KATE) last posted its earnings results on Wednesday, November 2nd. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The firm had revenue of $317 million for the quarter, compared to the consensus estimate of $310.64 million. Kate Spade & Company had a net margin of 9.67% and a return on equity of 27.34%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities analysts predict that Kate Spade & Company will post $0.65 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on KATE shares. Mizuho reissued a “buy” rating and issued a $21.00 price target on shares of Kate Spade & Company in a report on Wednesday, December 28th. Zacks Investment Research raised Kate Spade & Company from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, October 27th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Kate Spade & Company in a report on Thursday, January 12th. BMO Capital Markets reissued a “hold” rating on shares of Kate Spade & Company in a report on Friday, November 4th. Finally, Cowen and Company cut Kate Spade & Company from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Tuesday, November 22nd. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.63.
In other Kate Spade & Company news, insider Deborah J. Lloyd sold 29,011 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $14.63, for a total transaction of $424,430.93. Following the transaction, the insider now directly owns 46,544 shares of the company’s stock, valued at $680,938.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.
About Kate Spade & Company
Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments, which include KATE SPADE North America, KATE SPADE International and Adelington Design Group. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America.
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