Trading Report: Today, Quantitative Investment Management LLC decides to keep it stake in Kate Spade & Co. (KATE) to the level of $1,120,000

Today, Quantitative Investment Management LLC decides to keep it stake in Kate Spade & Co. (KATE) to the level of $1,120,000

Quantitative Investment Management LLC increased its stake in Kate Spade & Co. (NYSE:KATE) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,400 shares of the company’s stock after buying an additional 10,200 shares during the period. Quantitative Investment Management LLC owned approximately 0.05% of Kate Spade & Co. worth $1,120,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KATE. Advisor Group Inc. acquired a new stake in shares of Kate Spade & Co. during the second quarter worth about $134,000. LS Investment Advisors LLC raised its stake in shares of Kate Spade & Co. 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 last quarter. Invictus RG acquired a new stake in shares of Kate Spade & Co. during the second quarter worth about $163,000. PNC Financial Services Group Inc. raised its stake in shares of Kate Spade & Co. by 155.5% in the second quarter. PNC Financial Services Group Inc. now owns 9,589 shares of the company’s stock worth $198,000 after buying an additional 5,836 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Kate Spade & Co. during the second quarter worth about $222,000. Hedge funds and other institutional investors own 99.45% of the company’s stock.

Shares of Kate Spade & Co. (NYSE:KATE) traded down 2.02% during mid-day trading on Friday, reaching $16.02. 1,081,442 shares of the company’s stock traded hands. The company’s 50-day moving average price is $16.81 and its 200-day moving average price is $19.22. Kate Spade & Co. has a 12-month low of $14.26 and a 12-month high of $26.46. The stock has a market capitalization of $2.05 billion, a PE ratio of 16.07 and a beta of 1.67.

Kate Spade & Co. (NYSE:KATE) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Kate Spade & Co. had a net margin of 9.67% and a return on equity of 27.34%. The company earned $317 million during the quarter, compared to analysts’ expectations of $310.64 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts anticipate that Kate Spade & Co. will post $0.65 earnings per share for the current year.

A number of equities research analysts have issued reports on the company. Wunderlich cut their price target on Kate Spade & Co. from $39.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Kate Spade & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th. Vetr lowered Kate Spade & Co. from a “strong-buy” rating to a “buy” rating and set a $20.75 price target for the company. in a research note on Tuesday, September 13th. Wells Fargo & Co. upgraded Kate Spade & Co. from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $17.00 to $23.50 in a research note on Tuesday, September 13th. Finally, began coverage on shares of Kate Spade & Co. in a report on Wednesday, September 28th. They set an “outperform” rating and a $21.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kate Spade & Co. currently has an average rating of “Buy” and a consensus target price of $22.72.

About Kate Spade & Co.

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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