State of Alaska Department of Revenue lifted its position in shares of Kontoor Brands (NYSE:KTB) by 67.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,831 shares of the company’s stock after purchasing an additional 14,466 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Kontoor Brands worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co bought a new stake in shares of Kontoor Brands during the second quarter worth about $25,000. Arbor Wealth Management LLC acquired a new position in Kontoor Brands in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in Kontoor Brands in the second quarter valued at approximately $28,000. Blackhill Capital Inc. bought a new stake in Kontoor Brands during the second quarter worth $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Kontoor Brands during the second quarter worth $32,000.
Several equities research analysts recently issued reports on KTB shares. Piper Jaffray Companies started coverage on Kontoor Brands in a report on Monday, June 17th. They set a “neutral” rating and a $29.00 price target for the company. Zacks Investment Research cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Wednesday. Guggenheim reaffirmed a “buy” rating on shares of Kontoor Brands in a report on Thursday, August 22nd. Finally, Bank of America raised their price objective on Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.36.
In other Kontoor Brands news, Director Juliana L. Chugg acquired 8,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $29.96 per share, for a total transaction of $251,664.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Carucci acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $33.15 per share, for a total transaction of $165,750.00. The disclosure for this purchase can be found here.
KTB opened at $36.70 on Friday. The stock’s 50 day moving average is $34.40. The company has a debt-to-equity ratio of 12.64, a quick ratio of 1.07 and a current ratio of 2.49. Kontoor Brands has a 1 year low of $25.78 and a 1 year high of $41.75.
Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.29. The company had revenue of $609.74 million for the quarter, compared to the consensus estimate of $591.36 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. Kontoor Brands’s revenue was down 8.2% compared to the same quarter last year. Research analysts forecast that Kontoor Brands will post 3.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were given a dividend of $0.56 per share. The ex-dividend date was Monday, September 9th. This represents a $2.24 annualized dividend and a yield of 6.10%.
Featured Story: Cryptocurrencies
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.