Zurcher Kantonalbank Zurich Cantonalbank Purchases Shares of 2,750 Kontoor Brands (NYSE:KTB)
Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Kontoor Brands (NYSE:KTB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,750 shares of the company’s stock, valued at approximately $77,000.
Other hedge funds have also recently bought and sold shares of the company. CENTRAL TRUST Co purchased a new stake in shares of Kontoor Brands in the second quarter worth about $25,000. Arbor Wealth Management LLC purchased a new stake in shares of Kontoor Brands in the second quarter worth about $26,000. Blackhill Capital Inc. purchased a new stake in shares of Kontoor Brands in the second quarter worth about $29,000. Toth Financial Advisory Corp purchased a new stake in shares of Kontoor Brands in the second quarter worth about $38,000. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of Kontoor Brands in the second quarter worth about $48,000. 42.36% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Goldman Sachs Group assumed coverage on Kontoor Brands in a research report on Friday, May 17th. They issued a “neutral” rating for the company. Bank of America upped their target price on Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research report on Friday, August 9th. Piper Jaffray Companies began coverage on Kontoor Brands in a research report on Monday, June 17th. They issued a “neutral” rating and a $29.00 target price for the company. Stifel Nicolaus began coverage on Kontoor Brands in a report on Tuesday, May 28th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Zacks Investment Research raised Kontoor Brands from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Kontoor Brands currently has an average rating of “Hold” and a consensus target price of $31.07.
KTB traded down $0.17 on Thursday, reaching $33.33. The company’s stock had a trading volume of 10,112 shares, compared to its average volume of 876,865. 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. The firm has a 50 day moving average of $31.19.
Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.29. The business had revenue of $609.74 million during the quarter, compared to analysts’ expectations of $591.36 million. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. As a group, equities research 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. Investors of record on Tuesday, September 10th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Monday, September 9th.
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