Farallon Capital Management LLC Grows Position in Kate Spade & Co (KATE)
Farallon Capital Management LLC increased its position in shares of Kate Spade & Co (NYSE:KATE) by 152.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,000 shares of the textile maker’s stock after purchasing an additional 320,000 shares during the period. Farallon Capital Management LLC’s holdings in Kate Spade & Co were worth $9,800,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. BT Investment Management Ltd acquired a new position in shares of Kate Spade & Co during the 2nd quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 buying an additional 1,647 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of 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 buying an additional 137 shares in the last quarter. World Asset Management Inc acquired a new position in shares of Kate Spade & Co during the 1st quarter worth $209,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Kate Spade & Co during the 1st quarter worth $220,000. 97.87% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have recently commented on KATE shares. BidaskClub raised Kate Spade & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research raised Kate Spade & Co from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, BMO Capital Markets set a $19.00 price target on Kate Spade & Co and gave the stock a “hold” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.78.
Kate Spade & Co (NYSE:KATE) remained flat at $18.49 on Friday. The company had a trading volume of 7,789,960 shares. Kate Spade & Co has a 52-week low of $14.02 and a 52-week 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.
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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