Kontoor Brands, Inc. (NYSE:KTB) Holdings Raised by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in Kontoor Brands, Inc. (NYSE:KTB) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,328 shares of the company’s stock after purchasing an additional 231 shares during the quarter. HighTower Advisors LLC’s holdings in Kontoor Brands were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kontoor Brands by 25.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,029 shares of the company’s stock worth $1,284,000 after acquiring an additional 3,005 shares during the period. Taika Capital LP bought a new stake in Kontoor Brands during the fourth quarter worth approximately $705,000. Amundi lifted its position in Kontoor Brands by 33.0% in the fourth quarter. Amundi now owns 3,869 shares of the company’s stock worth $340,000 after purchasing an additional 960 shares during the period. Raymond James Financial Inc. bought a new position in Kontoor Brands during the 4th quarter valued at $6,314,000. Finally, Dana Investment Advisors Inc. acquired a new position in shares of Kontoor Brands during the 4th quarter valued at $654,000. Institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

KTB has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays cut their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group dropped their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Trading Down 2.5 %

Shares of NYSE KTB opened at $63.78 on Friday. The business has a fifty day simple moving average of $76.20 and a 200-day simple moving average of $81.67. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.26%. Kontoor Brands’s payout ratio is 47.60%.

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.