New York State Teachers Retirement System Purchases New Holdings in Kontoor Brands (NYSE:KTB)

New York State Teachers Retirement System purchased a new stake in Kontoor Brands (NYSE:KTB) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 59,090 shares of the company’s stock, valued at approximately $1,656,000.

Other hedge funds also recently modified their holdings of the company. CENTRAL TRUST Co bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $25,000. Arbor Wealth Management LLC bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $26,000. Toth Financial Advisory Corp bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $38,000. Legacy Advisors LLC bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $76,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $227,000. Institutional investors and hedge funds own 0.98% of the company’s stock.

Several equities research analysts recently issued reports on the company. Susquehanna Bancshares assumed coverage on Kontoor Brands in a research note on Thursday, June 13th. They issued a “positive” rating and a $36.00 price target for the company. Cowen assumed coverage on Kontoor Brands in a research note on Monday, April 8th. They set a “neutral” rating and a $7.50 target price for the company. Guggenheim assumed coverage on Kontoor Brands in a research note on Monday, June 17th. They set a “buy” rating and a $35.00 target price for the company. Bank of America assumed coverage on Kontoor Brands in a research note on Thursday, June 6th. They set an “underperform” rating and a $24.00 target price for the company. Finally, Piper Jaffray Companies assumed coverage on Kontoor Brands in a research note on Monday, June 17th. They set a “neutral” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.58.

NYSE KTB traded down $1.19 on Monday, hitting $28.88. 21,720 shares of the company’s stock were exchanged, compared to its average volume of 749,309. The business has a 50-day moving average price of $29.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.80 and a quick ratio of 1.98. Kontoor Brands has a 52 week low of $25.78 and a 52 week high of $41.75.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, June 20th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $648.34 million during the quarter, compared to analysts’ expectations of $636.00 million. As a group, sell-side analysts expect that Kontoor Brands will post 3.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.24 annualized dividend and a dividend yield of 7.76%.

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

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