Xponance Inc. Takes $213,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Xponance Inc. bought a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,413 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in Kontoor Brands during the fourth quarter valued at $25,000. Cary Street Partners Investment Advisory LLC grew its holdings in Kontoor Brands by 5,710.0% during the third 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. Oakworth Capital Inc. grew its holdings in Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after purchasing an additional 478 shares during the period. Jones Financial Companies Lllp grew its holdings in Kontoor Brands by 121.4% during the third 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. Finally, Covestor Ltd grew its holdings in Kontoor Brands by 44.5% during the third quarter. Covestor Ltd now owns 2,476 shares of the company’s stock valued at $109,000 after purchasing an additional 763 shares during the period. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 0.6 %

NYSE:KTB opened at $62.20 on Friday. 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, Inc. has a 1 year low of $37.10 and a 1 year high of $64.49. The company has a market cap of $3.47 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.64 and a beta of 1.13. The stock’s fifty day moving average price is $58.98 and its two-hundred day moving average price is $56.56.

Kontoor Brands (NYSE:KTB) last issued 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 return on equity of 76.30% and a net margin of 8.86%. The business had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $720.70 million. As a group, analysts expect that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.22%. Kontoor Brands’s dividend payout ratio (DPR) is presently 49.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. UBS Group increased their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Barclays dropped their target price 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 downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.40.

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.