Credit Agricole S A reduced its position in shares of Kate Spade & Co (NYSE:KATE) by 73.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,217 shares of the textile maker’s stock after selling 22,178 shares during the period. Credit Agricole S A’s holdings in Kate Spade & Co were worth $153,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of KATE. Mik Capital LLC bought a new position in Kate Spade & Co during the third quarter worth about $34,138,000. Hodges Capital Management Inc. bought a new position in Kate Spade & Co during the fourth quarter worth about $21,414,000. Jana Partners LLC bought a new position in Kate Spade & Co during the third quarter worth about $18,275,000. Peregrine Capital Management LLC bought a new position in Kate Spade & Co during the third quarter worth about $15,575,000. Finally, Moore Capital Management LP bought a new position in Kate Spade & Co during the third quarter worth about $7,709,000. 98.36% of the stock is currently owned by institutional investors.
Shares of Kate Spade & Co (NYSE:KATE) traded down 1.874% during trading on Friday, reaching $17.545. 3,793,756 shares of the company’s stock were exchanged. Kate Spade & Co has a 12 month low of $14.02 and a 12 month high of $26.46. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 14.793 and a beta of 1.62. The stock has a 50-day moving average price of $21.96 and a 200 day moving average price of $18.71.
Kate Spade & Co (NYSE:KATE) last posted its quarterly earnings results on Tuesday, April 18th. The textile maker reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.06. Kate Spade & Co had a return on equity of 27.34% and a net margin of 9.67%. The business earned $271 million during the quarter, compared to the consensus estimate of $299.08 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts forecast that Kate Spade & Co will post $0.82 EPS for the current year.
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A number of research analysts recently issued reports on KATE shares. Mizuho boosted their target price on shares of Kate Spade & Co from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 17th. BMO Capital Markets set a $19.00 price objective on shares of Kate Spade & Co and gave the stock a “hold” rating in a report on Tuesday. Cowen and Company restated a “market perform” rating and set a $20.00 price objective (up previously from $16.00) on shares of Kate Spade & Co in a report on Friday, January 13th. Wells Fargo & Co restated an “outperform” rating and set a $24.50 price objective (up previously from $23.50) on shares of Kate Spade & Co in a report on Thursday, February 16th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Kate Spade & Co in a report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.73.
Kate Spade & Co Company Profile
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).
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