American Trust bought a new stake in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) during the first quarter, according to its most recent filing with the SEC. The firm bought 5,515 shares of the company's stock, valued at approximately $228,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. Cullen Capital Management LLC acquired a new position in Kontoor Brands in the 1st quarter valued at $8,238,000. JPMorgan Chase & Co. grew its stake in Kontoor Brands by 49.4% in the 4th quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company's stock valued at $41,577,000 after buying an additional 268,201 shares during the last quarter. Victory Capital Management Inc. grew its stake in Kontoor Brands by 2,368.4% in the 1st quarter. Victory Capital Management Inc. now owns 212,847 shares of the company's stock valued at $8,456,000 after buying an additional 204,224 shares during the last quarter. Vanguard Group Inc. grew its stake in Kontoor Brands by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,713,342 shares of the company's stock valued at $236,247,000 after buying an additional 88,296 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in Kontoor Brands by 26.5% in the 1st quarter. AMG National Trust Bank now owns 331,475 shares of the company's stock valued at $13,707,000 after buying an additional 69,467 shares during the last quarter. 99.18% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Kontoor Brands from $45.00 to $38.00 in a research report on Wednesday, July 20th. 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. 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. Williams Capital restated a "downgrade" rating on shares of Kontoor Brands in a research report on Monday, July 25th. Finally, 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. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.83.
Kontoor Brands Price Performance
Shares of Kontoor Brands stock opened at $37.71 on Tuesday. Kontoor Brands, Inc. has a twelve month low of $30.98 and a twelve month high of $61.24. The firm has a market cap of $2.09 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.12. The firm's 50-day simple moving average is $37.77 and its 200-day simple moving average is $38.84. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 2.06.
Kontoor Brands (NYSE:KTB – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.05. 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 during the quarter, compared to the consensus estimate of $624.46 million. During the same period last year, the firm posted $0.40 EPS. The firm's quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.45 EPS for the current fiscal year.
Kontoor Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Friday, September 9th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, September 8th. Kontoor Brands's dividend payout ratio is presently 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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