BB&T Securities LLC Acquires 14,125 Shares of Kontoor Brands (NYSE:KTB)

BB&T Securities LLC increased its stake in Kontoor Brands (NYSE:KTB) by 102.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,855 shares of the company’s stock after buying an additional 14,125 shares during the quarter. BB&T Securities LLC’s holdings in Kontoor Brands were worth $976,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new stake in Kontoor Brands in the second quarter valued at $25,000. Arbor Wealth Management LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at about $28,000. Blackhill Capital Inc. acquired a new stake in Kontoor Brands in the 2nd quarter valued at about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kontoor Brands in the 2nd quarter valued at about $32,000. 89.58% of the stock is owned by institutional investors and hedge funds.

Shares of KTB traded up $0.77 during trading hours on Monday, hitting $36.62. The company had a trading volume of 815,493 shares, compared to its average volume of 1,084,888. The stock has a fifty day moving average price of $37.30. Kontoor Brands has a 12 month low of $25.78 and a 12 month high of $41.75. The company has a debt-to-equity ratio of 18.80, a current ratio of 2.47 and a quick ratio of 1.07.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $646.22 million. During the same period in the previous year, the company earned $1.25 earnings per share. Kontoor Brands’s revenue for the quarter was down 9.4% compared to the same quarter last year. Analysts predict that Kontoor Brands will post 3.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.24 annualized dividend and a dividend yield of 6.12%.

Several brokerages have recently commented on KTB. Macquarie started coverage on Kontoor Brands in a report on Monday, October 21st. They set a “neutral” rating on the stock. Edward Jones raised Kontoor Brands from a “hold” rating to a “buy” rating in a report on Monday. Bank of America lifted their price objective on shares of Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research report on Friday, August 9th. ValuEngine lowered shares of Kontoor Brands from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Barclays started coverage on shares of Kontoor Brands in a research report on Tuesday, November 12th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.81.

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

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