Tectonic Advisors LLC Increases Stake in Kontoor Brands, Inc. (NYSE:KTB)

Tectonic Advisors LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 238.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,726 shares of the company's stock after buying an additional 13,902 shares during the period. Tectonic Advisors LLC's holdings in Kontoor Brands were worth $1,265,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Kontoor Brands by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 597,638 shares of the company's stock valued at $38,327,000 after purchasing an additional 10,748 shares during the period. GAMMA Investing LLC increased its stake in shares of Kontoor Brands by 4,248.1% in the first quarter. GAMMA Investing LLC now owns 38,350 shares of the company's stock worth $2,459,000 after acquiring an additional 37,468 shares during the last quarter. Moran Wealth Management LLC bought a new stake in Kontoor Brands in the first quarter worth $2,685,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Kontoor Brands by 14.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,908 shares of the company's stock worth $315,000 after purchasing an additional 611 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Kontoor Brands by 33.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 30,735 shares of the company's stock valued at $2,625,000 after acquiring an additional 7,640 shares during the period. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 1.2%

Shares of KTB traded down $0.75 during trading hours on Friday, reaching $64.15. 543,138 shares of the stock traded hands, compared to its average volume of 577,286. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The stock has a fifty day simple moving average of $68.28 and a 200 day simple moving average of $70.78. The company has a current ratio of 2.78, a quick ratio of 1.65 and a debt-to-equity ratio of 1.72. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.49 and a beta of 1.12.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. Kontoor Brands's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. On average, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.24%. Kontoor Brands's payout ratio is 50.98%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target 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. Barclays raised their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Stifel Nicolaus reduced their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. UBS Group raised their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $87.50.

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.