Algert Global LLC Purchases Shares of 28,650 Kontoor Brands, Inc. (NYSE:KTB)

Algert Global LLC bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,650 shares of the company's stock, valued at approximately $2,447,000. Algert Global LLC owned approximately 0.05% of Kontoor Brands as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KTB. Principal Financial Group Inc. boosted its position in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after acquiring an additional 7,445 shares in the last quarter. Fortitude Family Office LLC boosted its position in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after purchasing an additional 35,932 shares during the last quarter. Level Wealth Management LLC bought a new position in Kontoor Brands in the fourth quarter worth about $350,000. Finally, Barclays PLC raised its holdings in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after purchasing an additional 77,137 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KTB. Barclays lifted their price objective on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group upped their price target on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company dropped their target price on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands has a consensus rating of "Moderate Buy" and a consensus price target of $84.80.

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded down $0.56 on Friday, hitting $68.62. 557,672 shares of the company were exchanged, compared to its average volume of 538,786. The firm has a market capitalization of $3.80 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The stock's 50 day moving average price is $60.87 and its 200 day moving average price is $77.36.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is presently 50.98%.

Kontoor Brands Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.