Kate Spade & Company (Nasdaq: KATE) Up on Rumors of Sale

Kate Spade & Company – Nasdaq: KATE

Shares of Kate Spade & Company continue to trend upwards after gaining over 20% during the regular trading session on unconfirmed reports of a company sale. Kate Spade & Company trades on the Nasdaq under the ticker KATE. Shares ended Tuesday at $14.51 and are over $18 in after-hours trading today.

Kate Spade & Company debuted on February 26, 2014, but the initial sparks formed far earlier in the minds of two imaginative and driven women. Liz Claiborne (in 1976) and Kate Spade (in 1993), each frustrated they couldn’t find what they believed women were looking for in the marketplace, took matters into their hands and founded their own companies.  Today, Kate Spade & Company designs and markets accessories and apparel principally under two global, multichannel lifestyle brands: Kate Spade New York and Jack Spade.

In 2014, KATE traded over $40/share. EPS has been inconsistent and in 2016 mustered only $0.17 on sales on $1.24 Billion. However, sales have increased each year since 2012. Fourteen firms follow Kate Spade & Company. Nine analysts have rated KATE as a “Strong Buy”, one a “Buy” and four a “Hold”. The consensus price target for KATE is $20.50.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

12/28/2016
Ticker Symbol KATE
Last Price a/o 4:13 PM EST  $             17.98
Average Volume 2.86 million
Market Cap $1.86 Billion
Sales $1.34 Billion
Shares Outstanding 128 million
Share Float 127.15 million
Shortable Yes
Optionable Yes
Inside Ownership 0.64%
Short Float 2.82%
Short Interest Ratio 1.26
Quarterly Return -19.70%
YTD Return -18.35%
Year Return -15.44%