7,010 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC acquired a new position in Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,010 shares of the company’s stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its position in Kontoor Brands by 1.9% in the first quarter. BlackRock Inc. now owns 8,294,678 shares of the company’s stock worth $401,379,000 after purchasing an additional 153,205 shares during the last quarter. Vanguard Group Inc. boosted its position in Kontoor Brands by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock worth $282,195,000 after purchasing an additional 20,964 shares during the last quarter. FMR LLC boosted its position in Kontoor Brands by 3.1% in the third quarter. FMR LLC now owns 3,866,900 shares of the company’s stock worth $169,796,000 after purchasing an additional 117,815 shares during the last quarter. State Street Corp boosted its position in Kontoor Brands by 0.6% in the second quarter. State Street Corp now owns 2,079,112 shares of the company’s stock worth $87,531,000 after purchasing an additional 13,277 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Kontoor Brands by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 1,353,135 shares of the company’s stock worth $59,416,000 after purchasing an additional 482,274 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KTB. UBS Group upped their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group upped their price target on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wells Fargo & Company upped their price target on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Barclays dropped their price target on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Finally, Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.40.

Kontoor Brands Stock Performance

NYSE:KTB opened at $53.96 on Monday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. Kontoor Brands, Inc. has a 52-week low of $37.10 and a 52-week high of $64.49. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.43 and a beta of 1.13. The business’s fifty day moving average is $59.67 and its 200 day moving average is $55.64.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. The company had revenue of $669.80 million for the quarter, compared to the consensus estimate of $720.70 million. Research analysts predict that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, March 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.71%. Kontoor Brands’s dividend payout ratio is currently 49.26%.

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.