3,650 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC purchased a new position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,650 shares of the company's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mendel Money Management boosted its stake in shares of Kontoor Brands by 2.8% in the fourth quarter. Mendel Money Management now owns 4,934 shares of the company's stock worth $421,000 after acquiring an additional 135 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock worth $408,000 after purchasing an additional 141 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Kontoor Brands by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after purchasing an additional 145 shares during the period. Huntington National Bank boosted its stake in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Kontoor Brands by 7.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company's stock valued at $252,000 after buying an additional 197 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KTB has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays raised their price objective on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, UBS Group boosted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Kontoor Brands Price Performance

Shares of KTB stock traded down $1.27 on Friday, reaching $69.75. The company's stock had a trading volume of 260,063 shares, compared to its average volume of 549,502. The stock's fifty day simple moving average is $62.98 and its 200-day simple moving average is $76.95. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.70, 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 (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. During the same period last year, the company posted $1.16 EPS. The business's revenue was down 1.3% on a year-over-year basis. Analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 2.98%. Kontoor Brands's payout ratio is currently 50.98%.

Kontoor Brands Company 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.