41,868 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 41,868 shares of the company's stock, valued at approximately $2,685,000. Moran Wealth Management LLC owned about 0.08% of Kontoor Brands as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. CX Institutional bought a new position in Kontoor Brands in the 1st quarter valued at $32,000. Huntington National Bank raised its position in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc raised its position in Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares during the last quarter. Finally, Quarry LP raised its position in Kontoor Brands by 161.3% in the 4th quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Up 1.2%

Shares of KTB stock traded up $0.80 on Friday, reaching $65.91. 985,907 shares of the stock were exchanged, compared to its average volume of 562,743. The stock has a market cap of $3.66 billion, a PE ratio of 16.16, a P/E/G ratio of 1.58 and a beta of 1.16. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65. The stock has a 50 day moving average price of $66.55 and a 200 day moving average price of $72.47.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share 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 the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 10th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.16%. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KTB. UBS Group lifted their price objective on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th. Stifel Nicolaus dropped their target price 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, Barclays boosted their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

About Kontoor Brands

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.