Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 36.3% in the fourth quarter, HoldingsChannel reports. The firm owned 6,530 shares of the company’s stock after selling 3,715 shares during the quarter. AlphaQuest LLC’s holdings in Kontoor Brands were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in Kontoor Brands during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its position in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after buying an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 buying an additional 182 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new position in Kontoor Brands during the fourth quarter worth $98,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Up 1.6 %

Shares of NYSE KTB opened at $61.01 on Thursday. The stock has a market cap of $3.38 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. 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 52-week low of $52.95 and a 52-week high of $96.80. The business has a 50-day moving average price of $81.66 and a 200 day moving average price of $82.51.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million during 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 business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.41%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays dropped their price objective 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.17.

Kontoor Brands Company 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.