Rhumbline Advisers grew its holdings in shares of Kontoor Brands (NYSE:KTB) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,998 shares of the company’s stock after purchasing an additional 7,736 shares during the period. Rhumbline Advisers owned about 0.25% of Kontoor Brands worth $4,984,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in KTB. Xact Kapitalforvaltning AB acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $432,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $622,000. CENTRAL TRUST Co acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $470,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $580,000.
A number of brokerages have issued reports on KTB. Zacks Investment Research lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Macquarie initiated coverage on shares of Kontoor Brands in a research report on Monday, October 21st. They set a “neutral” rating on the stock. Guggenheim reiterated a “buy” rating on shares of Kontoor Brands in a research report on Thursday, August 22nd. ValuEngine lowered shares of Kontoor Brands from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Bank of America increased their price target on shares of Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.36.
NYSE KTB opened at $35.01 on Friday. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 12.64. The stock’s 50 day moving average price is $36.71. 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, November 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.06. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $646.22 million. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. Equities analysts expect that Kontoor Brands will post 3.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, December 9th. This represents a $2.24 annualized dividend and a dividend yield of 6.40%.
In other news, Director Richard Carucci purchased 5,000 shares of Kontoor Brands stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average price of $33.15 per share, for a total transaction of $165,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Juliana L. Chugg acquired 8,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $29.96 per share, with a total value of $251,664.00. The disclosure for this purchase can be found here.
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