By otakuyassine3@gmail.com 
Envestnet Portfolio Solutions Inc. decreased its holdings in Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 4,455 shares of the company’s stock after selling 161 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Kontoor Brands were worth $381,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the fourth quarter valued at about $29,000. Fortitude Family Office LLC increased its position in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 93.06% of the company’s stock.
Kontoor Brands Stock Performance
KTB stock opened at $64.45 on Thursday. 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, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The business’s fifty day moving average is $77.03 and its 200-day moving average is $81.77. The company has a market cap of $3.57 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.
Kontoor Brands (NYSE:KTB – Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.
Kontoor Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio is currently 47.60%.
Analyst Ratings Changes
Several research analysts have issued reports on KTB shares. UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company cut their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays decreased their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.50.
Get Our Latest Analysis on KTB
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.
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