Amalgamated Bank Decreases Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Amalgamated Bank lowered its position in Kontoor Brands, Inc. (NYSE:KTB) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,324 shares of the company’s stock after selling 411 shares during the period. Amalgamated Bank’s holdings in Kontoor Brands were worth $919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mendel Money Management raised its stake in Kontoor Brands by 2.8% during the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock worth $421,000 after acquiring an additional 135 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Kontoor Brands by 14.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after purchasing an additional 145 shares in the last quarter. Huntington National Bank raised its position in shares of Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. Beacon Pointe Advisors LLC increased its stake in Kontoor Brands by 3.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company’s stock worth $530,000 after buying an additional 202 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 207 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $71.04 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 $3.95 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The stock’s fifty day moving average is $68.00 and its two-hundred day moving average is $71.75. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72.

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

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.93%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands’s payout ratio is 50.98%.

Analysts Set New Price Targets

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

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.