Resources Management Corp CT ADV bought a new stake in Kontoor Brands (NYSE:KTB) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,310 shares of the company’s stock, valued at approximately $46,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KTB. BlackRock Inc. purchased a new stake in shares of Kontoor Brands during the second quarter worth approximately $189,676,000. Vanguard Group Inc. acquired a new stake in Kontoor Brands during the 2nd quarter worth $137,562,000. Holocene Advisors LP purchased a new stake in shares of Kontoor Brands during the second quarter worth $30,144,000. Wells Fargo & Company MN acquired a new stake in shares of Kontoor Brands in the second quarter valued at about $26,434,000. Finally, Alecta Pensionsforsakring Omsesidigt acquired a new stake in shares of Kontoor Brands in the second quarter valued at about $16,172,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
NYSE KTB opened at $38.46 on Friday. Kontoor Brands has a 52 week low of $25.78 and a 52 week high of $41.75. The company has a debt-to-equity ratio of 18.80, a quick ratio of 1.07 and a current ratio of 2.47. The business’s fifty day moving average is $37.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date is Monday, December 9th.
A number of research firms recently weighed in on KTB. ValuEngine upgraded shares of Kontoor Brands from a “sell” rating to a “hold” rating in a research report on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Kontoor Brands in a research note on Thursday, August 22nd. Bank of America increased their price objective on shares of Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a report on Friday, August 9th. Macquarie started coverage on shares of Kontoor Brands in a research note on Monday, October 21st. They issued a “neutral” rating on the stock. Finally, Barclays initiated coverage on Kontoor Brands in a report on Tuesday, November 12th. They set an “equal weight” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Kontoor Brands presently has an average rating of “Hold” and an average price target of $31.81.
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