Ameriprise Financial Inc. cut its holdings in shares of Kate Spade & Co (NYSE:KATE) by 47.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 728,115 shares of the textile maker’s stock after selling 653,467 shares during the quarter. Ameriprise Financial Inc.’s holdings in Kate Spade & Co were worth $13,463,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of KATE. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Kate Spade & Co by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,546 shares of the textile maker’s stock worth $103,000 after purchasing an additional 1,647 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Kate Spade & Co by 1.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,276 shares of the textile maker’s stock worth $190,000 after purchasing an additional 137 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Kate Spade & Co during the 1st quarter worth approximately $220,000. Wedbush Securities Inc. purchased a new stake in Kate Spade & Co during the 2nd quarter worth approximately $253,000. Finally, ING Groep NV purchased a new stake in Kate Spade & Co during the 2nd quarter worth approximately $289,000. Institutional investors own 97.87% of the company’s stock.
Several research firms have issued reports on KATE. BidaskClub downgraded Kate Spade & Co from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BMO Capital Markets set a $19.00 price target on Kate Spade & Co and gave the company a “hold” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.46.
Kate Spade & Co (NYSE KATE) opened at 18.49 on Friday. The company’s 50-day moving average price is $18.45 and its 200-day moving average price is $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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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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