Simplicity Solutions LLC Acquires Shares of 7,010 Kontoor Brands, Inc. (NYSE:KTB)

Simplicity Solutions LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,010 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Kontoor Brands in the 4th quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Kontoor Brands by 5,710.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 571 shares during the period. Ronald Blue Trust Inc. boosted its holdings in Kontoor Brands by 225.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after purchasing an additional 761 shares during the period. Quarry LP bought a new stake in Kontoor Brands in the 1st quarter valued at about $52,000. Finally, Jones Financial Companies Lllp boosted its holdings in Kontoor Brands by 121.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after purchasing an additional 715 shares during the period. Institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

KTB has been the subject of several analyst reports. Barclays dropped their target price on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.40.

Kontoor Brands Price Performance

KTB stock opened at $55.40 on Friday. The company has a 50 day simple moving average of $59.26 and a 200 day simple moving average of $55.78. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.45 and a beta of 1.13. Kontoor Brands, Inc. has a 1 year low of $37.10 and a 1 year high of $64.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.66 and a quick ratio of 1.38.

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). The company had revenue of $669.80 million for the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. Research analysts anticipate that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, March 7th. Kontoor Brands’s dividend payout ratio is 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.