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

Kestra Private Wealth Services LLC acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,808 shares of the company’s stock, valued at approximately $300,000.

Several other large investors have also modified their holdings of KTB. Victory Capital Management Inc. increased its position in Kontoor Brands by 402.9% during the third quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock worth $43,965,000 after purchasing an additional 802,166 shares during the last quarter. FMR LLC increased its holdings in shares of Kontoor Brands by 3.1% during the 3rd quarter. FMR LLC now owns 3,866,900 shares of the company’s stock worth $169,796,000 after buying an additional 117,815 shares during the last quarter. Invesco Ltd. raised its position in shares of Kontoor Brands by 28.2% in the 3rd quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock worth $12,712,000 after buying an additional 63,616 shares during the period. Landscape Capital Management L.L.C. boosted its holdings in Kontoor Brands by 291.9% in the third quarter. Landscape Capital Management L.L.C. now owns 80,704 shares of the company’s stock valued at $3,544,000 after acquiring an additional 60,111 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in Kontoor Brands during the fourth quarter valued at about $3,396,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kontoor Brands Stock Down 0.8 %

NYSE KTB opened at $67.21 on Thursday. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $69.69. The business has a 50 day moving average price of $59.44 and a two-hundred day moving average price of $57.68. The stock has a market cap of $3.75 billion, a PE ratio of 17.02, a P/E/G ratio of 1.74 and a beta of 1.11.

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

Kontoor Brands Dividend Announcement

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

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.