Kontoor Brands (NYSE:KTB) Director Richard Carucci acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 accessible through the SEC website.
Shares of KTB opened at $32.20 on Friday. The stock’s fifty day moving average is $31.32. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 12.64. Kontoor Brands has a 12 month low of $25.78 and a 12 month high of $41.75.
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 Zacks’ consensus estimate of $0.67 by $0.29. The company had revenue of $609.74 million for the quarter, compared to the consensus estimate of $591.36 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. Kontoor Brands’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts forecast that Kontoor Brands will post 3.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.24 dividend on an annualized basis and a yield of 6.96%.
A number of hedge funds have recently made changes to their positions in the business. CENTRAL TRUST Co acquired a new position in Kontoor Brands during the 2nd quarter worth $25,000. Arbor Wealth Management LLC acquired a new position in Kontoor Brands during the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in Kontoor Brands during the 2nd quarter worth $28,000. Blackhill Capital Inc. acquired a new position in Kontoor Brands during the 2nd quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Kontoor Brands during the 2nd quarter worth $33,000. Institutional investors own 42.36% of the company’s stock.
A number of research analysts recently commented on the company. Goldman Sachs Group assumed coverage on Kontoor Brands in a research note on Friday, May 17th. They set a “neutral” rating for the company. Zacks Investment Research downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America upped their price objective on Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research note on Friday, August 9th. Guggenheim restated a “buy” rating on shares of Kontoor Brands in a research note on Thursday. Finally, Edward Jones assumed coverage on Kontoor Brands in a research note on Friday, May 24th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.07.
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