Kestra Private Wealth Services LLC Makes New $300,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Kestra Private Wealth Services LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,808 shares of the company’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also modified their holdings of KTB. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Kontoor Brands during the fourth quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC raised its position in shares of 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 buying an additional 571 shares during the last quarter. Oakworth Capital Inc. lifted its stake in shares of Kontoor Brands by 157.8% in the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after buying an additional 478 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after acquiring an additional 715 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $81,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Edward Jones lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. UBS Group increased their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Barclays lifted their price objective on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.20.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $67.21 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. Kontoor Brands, Inc. has a one year low of $37.10 and a one year high of $69.69. The stock’s 50-day moving average is $59.44 and its 200-day moving average is $57.68.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. Equities analysts predict that Kontoor Brands, Inc. will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a yield of 2.98%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

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.