178,695 Shares in Kate Spade & Co (KATE) Obtained by First Trust Advisors LP

178,695 Shares in Kate Spade & Co (KATE) Obtained by First Trust Advisors LP

First Trust Advisors LP purchased a new stake in Kate Spade & Co (NYSE:KATE) during the first quarter, Holdings Channel reports. The fund purchased 178,695 shares of the textile maker’s stock, valued at approximately $4,151,000.

Several other hedge funds have also recently modified their holdings of KATE. A.R.T. Advisors LLC purchased a new stake in shares of Kate Spade & Co during the fourth quarter valued at approximately $1,202,000. Norges Bank purchased a new stake in shares of Kate Spade & Co during the fourth quarter valued at approximately $23,497,000. Hudson Bay Capital Management LP purchased a new stake in shares of Kate Spade & Co during the fourth quarter valued at approximately $5,041,000. Capstone Asset Management Co. boosted its stake in shares of Kate Spade & Co by 2.1% in the first quarter. Capstone Asset Management Co. now owns 22,725 shares of the textile maker’s stock valued at $528,000 after buying an additional 470 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Kate Spade & Co during the fourth quarter valued at approximately $4,890,000. Hedge funds and other institutional investors own 98.36% of the company’s stock.

Kate Spade & Co (NYSE:KATE) opened at 18.45 on Friday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 16.61 and a beta of 1.62. Kate Spade & Co has a 52 week low of $14.02 and a 52 week high of $24.24. The stock has a 50 day moving average price of $18.01 and a 200 day moving average price of $18.94.

Kate Spade & Co (NYSE:KATE) last announced its quarterly earnings data on Tuesday, April 18th. The textile maker reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.06. The business had revenue of $271 million during the quarter, compared to analysts’ expectations of $299.08 million. Kate Spade & Co had a net margin of 9.67% and a return on equity of 27.34%. Kate Spade & Co’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities research analysts expect that Kate Spade & Co will post $0.78 EPS for the current year.

A number of equities analysts have weighed in on KATE shares. Vetr raised Kate Spade & Co from a “hold” rating to a “buy” rating and set a $25.44 price objective on the stock in a research note on Tuesday, March 28th. Goldman Sachs Group Inc boosted their price objective on Kate Spade & Co from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. Zacks Investment Research lowered Kate Spade & Co from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Mizuho boosted their price objective on Kate Spade & Co from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $24.50 price objective (up previously from $23.50) on shares of Kate Spade & Co in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Kate Spade & Co presently has an average rating of “Hold” and a consensus price target of $20.87.

About Kate Spade & Co

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. It operates through three segments. The KATE SPADE North America segment consists of the Company’s kate spade new york and JACK SPADE brands in North America. The KATE SPADE International segment consists of the Company’s kate spade new york and JACK SPADE brands in international markets, which operates principally in Japan, Asia (excluding Japan), Europe and Latin America).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “KATE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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