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20 May 2017, 02:13 | Austin Hogan
BlackRock Inc. boosted its position in shares of Kate Spade & Co by 10,025.1% in the first quarter. California State Teachers Retirement System now owns 272,943 shares of the textile maker's stock valued at $4,676,000 after buying an additional 2,300 shares during the last quarter. This pressure to sustain forced Coach Inc.to enter into a merger with Kate spade for an amount of $2.4 billion.
Kate Spade & Company was covered by a number of analysts recently, 0 rated the stock as Buy, 17 rated Hold, 0 rated sell and 0 gave an Underperform. Mik Capital LLC acquired a new position in shares of Kate Spade & Co during the third quarter valued at about $34,138,000. Laurion Capital Management LP bought a new stake in shares of Kate Spade & Co during the third quarter valued at approximately $205,000.
15 analysts on average are expecting Kate Spade & Company to report earnings of $0.14 per share for the current quarter.
Stock is now moving with a negative distance from the 200 day simple moving average of approximately -1.07%, and has a poor year to date (YTD) performance of -1.45% which means the stock is constantly subtracting to its value from the previous fiscal year end price. Riverhead Capital Management LLC raised its stake in shares of Kate Spade & Co by 3.2% in the third quarter. OZ Management LP now owns 3,100,284 shares of the textile maker's stock worth $72,020,000 after buying an additional 2,643,531 shares during the last quarter.
Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Kate Spade (NYSE:KATE). In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.00% with $127.93 Million sitting short, betting on future declines.
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Analysts on average have given a price target of $20.5 to Kate Spade & Company (KATE) stock. Kate Spade & Co (NYSE:KATE)'s shares are now trading -24.01% away from the 52-week high price of $24.24 and +31.38% far from the 52-week low price of $14.02.
Kate Spade & Co (NYSE:KATE) last posted its quarterly earnings data on Tuesday, April 18th.
The company's expected revenue in the current quarter to be 336.84 Million, seeing a projected current quarter growth of 27.3%, and per annum growth estimates over the next 5 year period of around 23.75%. The business had revenue of $271 million during the quarter, compared to analyst estimates of $299.08 million. Kate Spade & Co had a return on equity of 27.34% and a net margin of 9.67%. Kate Spade & Co's quarterly revenue was down 1.1% on a year-over-year basis. Similarly, full-year EPS forecasts have ranged between $0.71 and $0.81. On average, equities research analysts forecast that Kate Spade & Co will post $0.78 earnings per share for the current year.
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12/28/2016 - Kate Spade had its "buy" rating reiterated by analysts at Mizuho. Vetr raised shares of Kate Spade & Co from a "hold" rating to a "buy" rating and set a $25.44 target price for the company in a report on Tuesday, March 28th. Looking at this figure it suggests that the shares of Kate Spade & Company (KATE) may be overvalued, however, this can also depend upon the situation of the market; if the market is strong then it could suggest that Kate Spade & Company (KATE) is a good investment, however if the market is weaker then it could suggest that the shares are undervalued. Buckingham Research had a markedly different take on 09/05/2017, proposing that Kate Spade & Company is now considered Neutral versus prior Buy rating. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. The company presently has an average rating of "Hold" and a consensus price target of $20.87. Kate Spade & Company (KATE) is a part of Consumer Goods sector and belongs to Textile - Apparel Clothing industry.
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