D.A. Davidson & CO. lifted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,148 shares of the company's stock after acquiring an additional 3,515 shares during the quarter. D.A. Davidson & CO.'s holdings in Kontoor Brands were worth $668,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in KTB. Cullen Capital Management LLC acquired a new position in shares of Kontoor Brands during the first quarter valued at approximately $8,238,000. JPMorgan Chase & Co. increased its stake in shares of Kontoor Brands by 49.4% during the fourth quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company's stock valued at $41,577,000 after acquiring an additional 268,201 shares during the period. Victory Capital Management Inc. increased its stake in shares of Kontoor Brands by 2,368.4% during the first quarter. Victory Capital Management Inc. now owns 212,847 shares of the company's stock valued at $8,456,000 after acquiring an additional 204,224 shares during the period. AMG National Trust Bank increased its stake in shares of Kontoor Brands by 26.5% during the first quarter. AMG National Trust Bank now owns 331,475 shares of the company's stock valued at $13,707,000 after acquiring an additional 69,467 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Kontoor Brands by 29.4% during the fourth quarter. Bank of America Corp DE now owns 251,751 shares of the company's stock valued at $12,902,000 after acquiring an additional 57,181 shares during the period. Institutional investors and hedge funds own 99.18% of the company's stock.
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Wall Street Analysts Forecast Growth
Several research analysts have issued reports on KTB shares. The Goldman Sachs Group decreased their price target on shares of Kontoor Brands from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, July 21st. UBS Group decreased their price target on shares of Kontoor Brands from $78.00 to $50.00 in a research report on Friday, July 15th. Wells Fargo & Company started coverage on shares of Kontoor Brands in a research report on Monday, July 11th. They issued an "overweight" rating and a $40.00 price target on the stock. Williams Capital restated a "downgrade" rating on shares of Kontoor Brands in a research report on Monday, July 25th. Finally, William Blair lowered shares of Kontoor Brands to a "hold" rating and set a $43.00 price target on the stock. in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Kontoor Brands currently has an average rating of "Hold" and a consensus target price of $40.83.
Kontoor Brands Trading Down 2.4 %
NYSE KTB opened at $36.71 on Tuesday. Kontoor Brands, Inc. has a twelve month low of $30.98 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 2.06. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 1.03 and a beta of 1.12. The firm's 50 day moving average price is $36.96 and its two-hundred day moving average price is $39.91.
Kontoor Brands (NYSE:KTB – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Kontoor Brands had a net margin of 9.52% and a return on equity of 155.26%. The firm had revenue of $613.50 million for the quarter, compared to analysts' expectations of $624.46 million. During the same period in the previous year, the company posted $0.40 EPS. The company's quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts anticipate that Kontoor Brands, Inc. will post 4.45 EPS for the current year.
Kontoor Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, September 8th. Kontoor Brands's dividend payout ratio (DPR) is currently 42.69%.
Kontoor Brands Profile
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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.
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