Kate Spade & Co (NYSE:KATE) Stock Rating Lowered by BidaskClub

Kate Spade & Co (NYSE:KATE) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, July 12th.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets set a $19.00 price target on shares of Kate Spade & Co and gave the company a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Kate Spade & Co from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. William Blair lowered shares of Kate Spade & Co from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Buckingham Research reiterated a “neutral” rating on shares of Kate Spade & Co in a research note on Tuesday, May 9th. Finally, Nomura reiterated a “neutral” rating and issued a $18.50 price objective on shares of Kate Spade & Co in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Kate Spade & Co presently has a consensus rating of “Hold” and an average target price of $20.80.

Shares of Kate Spade & Co (KATE) opened at 18.49 on Wednesday. Kate Spade & Co has a one year low of $14.02 and a one year high of $24.24. The stock has a 50 day moving average price of $18.45 and a 200-day moving average price of $19.25.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KATE. Comerica Bank increased its position in shares of Kate Spade & Co by 6.8% in the fourth quarter. Comerica Bank now owns 97,791 shares of the textile maker’s stock valued at $1,770,000 after buying an additional 6,191 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Kate Spade & Co by 126.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,579 shares of the textile maker’s stock valued at $122,000 after buying an additional 3,671 shares during the last quarter. Norges Bank purchased a new position in shares of Kate Spade & Co during the fourth quarter valued at approximately $23,497,000. Hudson Bay Capital Management LP purchased a new position in shares of Kate Spade & Co during the fourth quarter valued at approximately $5,041,000. Finally, Capstone Asset Management Co. increased its position in shares of Kate Spade & Co by 2.1% in the first quarter. Capstone Asset Management Co. now owns 22,725 shares of the textile maker’s stock valued at $528,000 after buying an additional 470 shares during the last quarter. Institutional investors and hedge funds own 97.87% of the company’s stock.

About Kate Spade & Co

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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