Kate Spade & Co (NYSE:KATE) Stake Reduced by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan reduced its position in Kate Spade & Co (NYSE:KATE) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,520 shares of the textile maker’s stock after selling 9,860 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Kate Spade & Co were worth $916,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Kate Spade & Co by 5.0% in the first quarter. Vanguard Group Inc. now owns 10,009,207 shares of the textile maker’s stock worth $232,515,000 after buying an additional 473,632 shares in the last quarter. BlackRock Inc. increased its position in shares of Kate Spade & Co by 10,025.1% in the first quarter. BlackRock Inc. now owns 9,925,676 shares of the textile maker’s stock worth $230,573,000 after buying an additional 9,827,646 shares in the last quarter. Sachem Head Capital Management LP bought a new position in shares of Kate Spade & Co during the first quarter worth approximately $145,188,000. State Street Corp increased its position in shares of Kate Spade & Co by 3.6% in the first quarter. State Street Corp now owns 3,300,544 shares of the textile maker’s stock worth $76,676,000 after buying an additional 114,198 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kate Spade & Co by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 3,216,956 shares of the textile maker’s stock worth $74,731,000 after buying an additional 68,677 shares in the last quarter. 97.87% of the stock is currently owned by institutional investors.

Shares of Kate Spade & Co (KATE) opened at 18.49 on Friday. The firm has a 50-day moving average of $18.45 and a 200 day moving average of $19.25. Kate Spade & Co has a 52 week low of $14.02 and a 52 week high of $24.24.

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A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Kate Spade & Co from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 21st. BMO Capital Markets set a $19.00 target price on shares of Kate Spade & Co and gave the stock a “hold” rating in a research note on Thursday, July 6th. Wells Fargo & Company downgraded shares of Kate Spade & Co from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $24.50 to $19.00 in a research note on Tuesday, May 9th. William Blair downgraded shares of Kate Spade & Co from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $22.00 target price (down from $24.00) on shares of Kate Spade & Co in a research note on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kate Spade & Co presently has an average rating of “Hold” and an average target price of $20.80.

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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Institutional Ownership by Quarter for Kate Spade & Co (NYSE:KATE)

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