Everence Capital Management Inc. purchased a new stake in shares of Kontoor Brands (NYSE:KTB) in the third quarter, HoldingsChannel.com reports. The fund purchased 12,890 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $76,000. JPMorgan Chase & Co. acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $2,097,000. Commonwealth Bank of Australia acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $138,000. M&T Bank Corp acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $241,000. Finally, AMG National Trust Bank acquired a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $5,679,000.

Several research analysts recently issued reports on the company. Susquehanna Bancshares assumed coverage on Kontoor Brands in a research report on Thursday, June 13th. They set a “positive” rating and a $36.00 price objective for the company. Zacks Investment Research downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies assumed coverage on Kontoor Brands in a research report on Monday, June 17th. They set a “neutral” rating and a $29.00 price objective for the company. Guggenheim restated a “buy” rating on shares of Kontoor Brands in a research report on Thursday, August 22nd. Finally, Bank of America lifted their price objective on Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.36.

KTB stock traded up $0.03 during midday trading on Wednesday, hitting $34.65. The stock had a trading volume of 8,715 shares, compared to its average volume of 1,123,118. The company has a debt-to-equity ratio of 12.64, a quick ratio of 1.07 and a current ratio of 2.49. Kontoor Brands has a 12-month low of $25.78 and a 12-month high of $41.75. The business has a 50-day moving average price of $34.25.

Kontoor Brands (NYSE:KTB) last released its earnings results 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 analysts’ expectations of $591.36 million. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. Research analysts forecast that Kontoor Brands will post 3.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were paid a $0.56 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.24 annualized dividend and a yield of 6.46%.

In other news, Director Richard Carucci bought 5,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $33.15 per share, with a total value of $165,750.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Juliana L. Chugg bought 8,400 shares of the stock in a transaction 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.

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

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