Kate Spade & Company (KATE) Given Hold Rating at Oppenheimer Holdings, Inc.
A number of other equities analysts have also weighed in on KATE. Zacks Investment Research raised Kate Spade & Company from a sell rating to a hold rating in a research report on Thursday, October 20th. BMO Capital Markets reissued a hold rating on shares of Kate Spade & Company in a research report on Friday, November 4th. Wells Fargo & Company reissued an outperform rating and issued a $21.50 target price on shares of Kate Spade & Company in a research report on Wednesday, November 16th. Cowen and Company lowered Kate Spade & Company from an outperform rating to a market perform rating and set a $16.00 target price for the company. in a research report on Tuesday, November 22nd. Finally, Wolfe Research lowered Kate Spade & Company from an outperform rating to a peer perform rating in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $23.29.
Shares of Kate Spade & Company (NYSE:KATE) traded up 1.86% during midday trading on Thursday, hitting $22.98. 9,380,130 shares of the stock were exchanged. Kate Spade & Company has a 52-week low of $14.02 and a 52-week high of $26.46. The firm’s 50 day moving average price is $18.50 and its 200-day moving average price is $17.56. The stock has a market cap of $2.94 billion, a P/E ratio of 23.05 and a beta of 1.62.
Kate Spade & Company (NYSE:KATE) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm earned $470 million during the quarter, compared to analyst estimates of $472.80 million. Kate Spade & Company had a return on equity of 27.34% and a net margin of 9.67%. Kate Spade & Company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, equities research analysts expect that Kate Spade & Company will post $0.84 earnings per share for the current fiscal year.
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In other Kate Spade & Company news, insider Deborah J. Lloyd sold 29,011 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $14.63, for a total transaction of $424,430.93. Following the completion of the sale, the insider now directly owns 46,544 shares in the company, valued at approximately $680,938.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Harris Associates L P increased its stake in Kate Spade & Company by 0.7% in the third quarter. Harris Associates L P now owns 6,343,511 shares of the company’s stock worth $108,664,000 after buying an additional 45,700 shares in the last quarter. OZ Management LP increased its stake in Kate Spade & Company by 7.0% in the third quarter. OZ Management LP now owns 4,628,514 shares of the company’s stock worth $79,287,000 after buying an additional 304,748 shares in the last quarter. BlackRock Fund Advisors increased its stake in Kate Spade & Company by 3.9% in the third quarter. BlackRock Fund Advisors now owns 4,619,423 shares of the company’s stock worth $79,131,000 after buying an additional 172,871 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Kate Spade & Company by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,762,983 shares of the company’s stock worth $64,460,000 after buying an additional 31,587 shares in the last quarter. Finally, Columbus Circle Investors increased its stake in Kate Spade & Company by 42.1% in the second quarter. Columbus Circle Investors now owns 2,642,548 shares of the company’s stock worth $54,463,000 after buying an additional 783,023 shares in the last quarter. Institutional investors and hedge funds own 98.36% 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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