Jefferies Group LLC Makes New $6.74 Million Investment in Kontoor Brands (NYSE:KTB)

Jefferies Group LLC bought a new position in shares of Kontoor Brands (NYSE:KTB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 240,637 shares of the company’s stock, valued at approximately $6,743,000. Jefferies Group LLC owned approximately 0.42% of Kontoor Brands at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new position in shares of Kontoor Brands during the second quarter worth $25,000. Arbor Wealth Management LLC acquired a new position in Kontoor Brands in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in Kontoor Brands in the second quarter valued at $28,000. Blackhill Capital Inc. acquired a new position in Kontoor Brands in the second quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Kontoor Brands in the second quarter valued at $33,000. Hedge funds and other institutional investors own 85.42% of the company’s stock.

In other Kontoor Brands news, Director Richard Carucci bought 5,000 shares of Kontoor Brands stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $33.15 per share, with a total value of $165,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Juliana L. Chugg bought 8,400 shares of Kontoor Brands stock in a transaction dated Thursday, August 15th. The stock was acquired 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.

Shares of NYSE:KTB traded up $0.30 on Friday, reaching $35.05. The company’s stock had a trading volume of 125,361 shares, compared to its average volume of 522,500. The business has a 50-day moving average price of $33.12. 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 12.64, a quick ratio of 1.07 and a current ratio of 2.49.

Kontoor Brands (NYSE:KTB) last announced its 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. During the same period in the previous year, the company posted $1.18 earnings per share. Kontoor Brands’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, research analysts forecast that Kontoor Brands will post 3.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.39%.

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

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

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