Alpine Group USVI LLC acquired a new stake in Kontoor Brands (NYSE:KTB) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 25,000 shares of the company’s stock, valued at approximately $878,000.
Several other hedge funds have also recently bought and sold shares of the stock. Legacy Advisors LLC acquired a new position in Kontoor Brands during the 2nd quarter worth $76,000. JPMorgan Chase & Co. acquired a new position in Kontoor Brands during the 2nd quarter worth $2,097,000. Commonwealth Bank of Australia acquired a new position in Kontoor Brands during the 2nd quarter worth $138,000. M&T Bank Corp acquired a new position in Kontoor Brands during the 2nd quarter worth $241,000. Finally, AMG National Trust Bank acquired a new position in Kontoor Brands during the 2nd quarter worth $5,679,000.
Several research firms recently commented on KTB. Zacks Investment Research cut Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Wednesday. Susquehanna Bancshares began coverage on Kontoor Brands in a research note on Thursday, June 13th. They set a “positive” rating and a $36.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Kontoor Brands in a research note on Thursday, August 22nd. Bank of America boosted their target price on Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research note on Friday, August 9th. Finally, Piper Jaffray Companies began coverage on Kontoor Brands in a research note on Monday, June 17th. They set a “neutral” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.36.
In other Kontoor Brands news, Director Richard Carucci acquired 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $33.15 per share, with a total value of $165,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg acquired 8,400 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired 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.
Shares of NYSE:KTB traded up $2.38 on Friday, hitting $36.79. 39,063 shares of the company’s stock were exchanged, compared to its average volume of 547,294. The stock’s 50-day moving average is $34.35. Kontoor Brands has a 1-year low of $25.78 and a 1-year high of $41.75. 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 (NYSE:KTB) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.29. The business had revenue of $609.74 million for the quarter, compared to analyst estimates of $591.36 million. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. On average, equities research analysts predict that Kontoor Brands will post 3.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend yield of 6.09%.
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