GAMMA Investing LLC Acquires 37,468 Shares of Kontoor Brands, Inc. (NYSE:KTB)

GAMMA Investing LLC raised its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 4,248.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 38,350 shares of the company’s stock after buying an additional 37,468 shares during the quarter. GAMMA Investing LLC’s holdings in Kontoor Brands were worth $2,459,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Huntington National Bank grew its position in shares of Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after buying an additional 503 shares during the last quarter. Quarry LP boosted 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 valued at $62,000 after purchasing an additional 450 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $98,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Trading Down 2.0%

Kontoor Brands stock opened at $64.58 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The business’s fifty day simple moving average is $64.68 and its two-hundred day simple moving average is $74.76. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last released 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 73.99% and a net margin of 9.72%. The business 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 company posted $1.16 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Stifel Nicolaus dropped their price target on 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 price target on Kontoor Brands and gave the company a “buy” rating in a research report on Tuesday. UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

About Kontoor Brands

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.