Raymond James Financial Inc. purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,931 shares of the company's stock, valued at approximately $6,314,000. Raymond James Financial Inc. owned about 0.13% of Kontoor Brands at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Mendel Money Management boosted its holdings in Kontoor Brands by 2.8% in the fourth quarter. Mendel Money Management now owns 4,934 shares of the company's stock valued at $421,000 after purchasing an additional 135 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Kontoor Brands by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock valued at $408,000 after buying an additional 141 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after buying an additional 145 shares in the last quarter. Huntington National Bank grew its position in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after buying an additional 148 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.
Kontoor Brands Stock Performance
KTB traded down $0.62 during trading on Wednesday, reaching $60.16. 688,145 shares of the company were exchanged, compared to its average volume of 538,321. 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 52 week low of $50.00 and a 52 week high of $96.80. The firm has a 50 day moving average of $61.45 and a 200 day moving average of $78.16. The stock has a market cap of $3.33 billion, a P/E ratio of 13.55, a PEG ratio of 2.12 and a beta of 0.93.
Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to analysts' expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
The business also recently announced 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 is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.46%. Kontoor Brands's payout ratio is 47.60%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on KTB. Wells Fargo & Company decreased their price target on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays dropped their price target on Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, UBS Group lowered their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.17.
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About Kontoor Brands
(
Free Report)
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.
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