Homestead Advisers Corp Buys New Stake in Kontoor Brands, Inc. (NYSE:KTB)

Homestead Advisers Corp purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,800 shares of the company’s stock, valued at approximately $1,947,000.

Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after purchasing an additional 188,001 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Kontoor Brands by 67.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock valued at $24,626,000 after acquiring an additional 116,000 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $8,479,000. Barclays PLC raised its position in shares of Kontoor Brands by 316.3% during the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after purchasing an additional 77,137 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Kontoor Brands in the 4th quarter valued at approximately $6,314,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KTB. Barclays dropped their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, UBS Group reduced their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Price Performance

KTB opened at $64.45 on Thursday. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The company has a 50 day moving average of $77.03 and a two-hundred day moving average of $81.77. The company has a market cap of $3.57 billion, a P/E ratio of 14.51, a P/E/G 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 (NYSE:KTB) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. On average, analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

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.