Simplex Trading buys $510,070 stake in Kate Spade & Co (KATE)

Kate Spade & Co (KATE) : Simplex Trading scooped up 11,003 additional shares in Kate Spade & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 28,353 shares of Kate Spade & Co which is valued at $510,070.Kate Spade & Co makes up approximately 0.07% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in KATE by selling 6,920 shares or 18.55% in the most recent quarter. The Hedge Fund company now holds 30,380 shares of KATE which is valued at $546,536. Kate Spade & Co makes up approx 0.07% of First Mercantile Trust Co’s portfolio.Independent Portfolio Consultants reduced its stake in KATE by selling 8,290 shares or 59.47% in the most recent quarter. The Hedge Fund company now holds 5,650 shares of KATE which is valued at $101,926. Kate Spade & Co makes up approx 0.03% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in KATE by selling 9,615 shares or 16.78% in the most recent quarter. The Hedge Fund company now holds 47,677 shares of KATE which is valued at $860,093.

Kate Spade & Co opened for trading at $18.06 and hit $18.19 on the upside on Friday, eventually ending the session at $17.99, with a gain of 0.11% or 0.02 points. The heightened volatility saw the trading volume jump to 15,92,916 shares. Company has a market cap of $2,303 M.

On the company’s financial health, Kate Spade & Co reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.14. The company had revenue of $320.00 million for the quarter, compared to analysts expectations of $318.20 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Kate Spade & Co. CLSA Initiated Kate Spade & Co on Sep 29, 2016 to “Outperform”, Price Target of the shares are set at $21.Kate Spade & Co was Upgraded by Wells Fargo to ” Outperform” on Sep 13, 2016. Shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $30 .

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments: KATE SPADE North America KATE SPADE International and Adelington Design Group. KATE SPADE North America segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in North America. KATE SPADE International segment consists of the Company’s kate spade new york KATE SPADE SATURDAY and JACK SPADE brands in International markets. Adelington Design Group segment consists of exclusive arrangements to supply jewelry for the LIZ CLAIBORNE and MONET brands; the wholesale apparel and wholesale non-apparel operations of the licensed LIZWEAR brand and other brands and the licensed LIZ CLAIBORNE NEW YORK brand. The Company operates specialty retail stores outlet stores and concession stores.

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