CX Institutional Makes New Investment in Kontoor Brands, Inc. (NYSE:KTB)

CX Institutional purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 495 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KTB. Huntington National Bank lifted its holdings in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after acquiring an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after acquiring an additional 503 shares in the last quarter. Quarry LP raised its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after purchasing an additional 450 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Kontoor Brands during the 4th quarter valued at about $98,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KTB. Stifel Nicolaus cut their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the company a “buy” rating in a research report on Tuesday, June 10th. Wells Fargo & Company upped their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Barclays lifted their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Finally, UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.50.

Kontoor Brands Stock Down 1.0%

Shares of NYSE:KTB opened at $63.75 on Wednesday. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a market capitalization of $3.54 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78. The company has a fifty day moving average of $65.21 and a 200-day moving average of $74.07.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The firm had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same period in the previous year, the business earned $1.16 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.26%. Kontoor Brands’s dividend payout ratio (DPR) is 50.98%.

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.