State of Alaska Department of Revenue Boosts Stake in Kontoor Brands (NYSE:KTB)

State of Alaska Department of Revenue lifted its holdings in Kontoor Brands (NYSE:KTB) by 67.7% in the 3rd quarter, Holdings Channel reports. The firm owned 35,831 shares of the company’s stock after acquiring an additional 14,466 shares during the period. State of Alaska Department of Revenue’s holdings in Kontoor Brands were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co purchased a new position in shares of Kontoor Brands in the second quarter worth $25,000. Arbor Wealth Management LLC purchased a new position in shares of Kontoor Brands in the second quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in shares of Kontoor Brands in the second quarter worth $28,000. Blackhill Capital Inc. purchased a new position in shares of Kontoor Brands in the second quarter worth $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Kontoor Brands in the second quarter worth $32,000.

Shares of KTB opened at $36.70 on Friday. The company has a debt-to-equity ratio of 12.64, a current ratio of 2.49 and a quick ratio of 1.07. Kontoor Brands has a one year low of $25.78 and a one year high of $41.75. The business has a fifty day moving average price of $34.40.



Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.29. The firm had revenue of $609.74 million during the quarter, compared to the consensus estimate of $591.36 million. During the same period in the previous year, the firm earned $1.18 EPS. The business’s revenue was down 8.2% on a year-over-year basis. Equities research analysts predict that Kontoor Brands will post 3.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Monday, September 9th.

In other news, Director Richard Carucci acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $33.15 per share, with a total value of $165,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juliana L. Chugg acquired 8,400 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased 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.

Several research analysts have recently weighed in on the company. Piper Jaffray Companies assumed coverage on Kontoor Brands in a research note on Monday, June 17th. They issued a “neutral” rating and a $29.00 price target for the company. Bank of America boosted their price target on Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research note on Friday, August 9th. Zacks Investment Research cut Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Guggenheim restated a “buy” rating on shares of Kontoor Brands in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $31.36.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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