Resources Management Corp CT ADV Buys Shares of 1,310 Kontoor Brands (NYSE:KTB)

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.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $646.22 million. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. Sell-side analysts expect that Kontoor Brands will post 3.77 earnings per share for the current fiscal year.

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.

Recommended Story: Arbitrage

Want to see what other hedge funds are holding KTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kontoor Brands (NYSE:KTB).

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

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.