Sherbrooke Park Advisers LLC Takes Position in Kontoor Brands, Inc. (NYSE:KTB)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after acquiring an additional 7,445 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after acquiring an additional 35,932 shares during the period. Level Wealth Management LLC acquired a new position in shares of Kontoor Brands in the fourth quarter worth approximately $350,000. Barclays PLC lifted its stake in shares of 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 acquiring an additional 77,137 shares during the period. Finally, Vest Financial LLC lifted its stake in shares of Kontoor Brands by 47.7% in the fourth quarter. Vest Financial LLC now owns 28,252 shares of the company's stock worth $2,413,000 after acquiring an additional 9,121 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KTB. Barclays lifted their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday. Stifel Nicolaus lowered their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. UBS Group lifted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Stock Down 1.9%

Shares of NYSE KTB traded down $1.36 during midday trading on Friday, hitting $69.66. 514,104 shares of the stock traded hands, compared to its average volume of 551,944. The company has a market cap of $3.87 billion, a PE ratio of 15.69, a P/E/G ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The business has a 50 day moving average price of $63.13 and a two-hundred day moving average price of $76.78. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm 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 73.99% and a net margin of 9.72%. The company'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. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued 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 dividend yield of 2.99%. Kontoor Brands's dividend payout ratio is 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.