Buckingham Capital Management Inc Lowers stake in Kate Spade & Co (KATE)

Kate Spade & Co (KATE) : Buckingham Capital Management Inc reduced its stake in Kate Spade & Co by 6.31% during the most recent quarter end. The investment management company now holds a total of 987,184 shares of Kate Spade & Co which is valued at $24,788,190 after selling 66,451 shares in Kate Spade & Co , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Kate Spade & Co makes up approximately 1.44% of Buckingham Capital Management Inc’s portfolio.

Kate Spade & Co opened for trading at $24.81 and hit $25.31 on the upside on Friday, eventually ending the session at $25.11, with a gain of 1.74% or 0.43 points. The heightened volatility saw the trading volume jump to 13,27,937 shares. Company has a market cap of $3,217 M.

Other Hedge Funds, Including , Next Financial Group Inc sold out all of its stake in KATE during the most recent quarter. The investment firm sold 100 shares of KATE which is valued $2,511.Oregon Public Employees Retirement Fund boosted its stake in KATE in the latest quarter, The investment management firm added 1,652 additional shares and now holds a total of 41,352 shares of Kate Spade & Co which is valued at $1,013,124. Kate Spade & Co makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Santa Fe Partners boosted its stake in KATE in the latest quarter, The investment management firm added 37,971 additional shares and now holds a total of 55,496 shares of Kate Spade & Co which is valued at $1,359,652. Kate Spade & Co makes up approx 0.22% of Santa Fe Partners’s portfolio.Creative Planning reduced its stake in KATE by selling 3,000 shares or 46.83% in the most recent quarter. The Hedge Fund company now holds 3,406 shares of KATE which is valued at $80,211.Weaver C. Barksdale Associates reduced its stake in KATE by selling 72 shares or 25.9% in the most recent quarter. The Hedge Fund company now holds 206 shares of KATE which is valued at $4,851.

On the company’s financial health, Kate Spade & Co reported $0.32 EPS for the quarter, based on the information available during the earnings call on Mar 1, 2016. Analyst had a consensus estimate of $0.32. The company had revenue of $429.00 million for the quarter, compared to analysts expectations of $440.37 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Kate Spade & Co. Company shares were Reiterated by Mizuho on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $25 .Buckingham Research Initiated Kate Spade & Co on Apr 13, 2016 to “Buy”, Price Target of the shares are set at $31.Shares were Reiterated by Wolfe Research on Mar 4, 2016 to “Outperform” and Lowered the Price Target to $ 27 from a previous price target of $29 .

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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