Kate Spade & Co (NYSE:KATE) Shares Sold by OppenheimerFunds Inc.

OppenheimerFunds Inc. lowered its stake in Kate Spade & Co (NYSE:KATE) by 21.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,406 shares of the textile maker’s stock after selling 3,989 shares during the period. OppenheimerFunds Inc.’s holdings in Kate Spade & Co were worth $335,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Kate Spade & Co by 852.8% in the first quarter. SG Americas Securities LLC now owns 142,238 shares of the textile maker’s stock valued at $3,304,000 after buying an additional 127,309 shares in 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. Oregon Public Employees Retirement Fund increased its position in shares of Kate Spade & Co by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,046 shares of the textile maker’s stock valued at $1,046,000 after buying an additional 600 shares in the last quarter. 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 in the last quarter. Institutional investors own 97.87% of the company’s stock.

Shares of Kate Spade & Co (NYSE:KATE) remained flat at $18.49 during midday trading on Wednesday. The stock had a trading volume of 7,789,960 shares. Kate Spade & Co has a 12 month low of $14.02 and a 12 month high of $24.24. The company’s 50-day moving average price is $18.45 and its 200-day moving average price is $19.25.

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A number of research firms have weighed in on KATE. Zacks Investment Research raised 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 cut shares of Kate Spade & Co from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $24.50 to $19.00 in a research note on Tuesday, May 9th. William Blair cut 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. reissued a “neutral” rating and issued a $22.00 price objective (down previously from $24.00) on shares of Kate Spade & Co in a research note on Saturday, April 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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).

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

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