Kesler Norman & Wride LLC Invests $604,000 in Kontoor Brands, Inc. (NYSE:KTB)

Kesler Norman & Wride LLC bought a new position in Kontoor Brands, Inc. (NYSE:KTB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,391 shares of the company’s stock, valued at approximately $604,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Kontoor Brands during the second quarter valued at about $27,000. GAMMA Investing LLC grew its position in Kontoor Brands by 53.5% during the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after buying an additional 244 shares during the period. Signaturefd LLC grew its position in Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after buying an additional 324 shares during the period. Headlands Technologies LLC lifted its holdings in Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after purchasing an additional 293 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Kontoor Brands by 72.4% during the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock valued at $95,000 after purchasing an additional 660 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $80.46 on Wednesday. The company has a 50 day moving average of $74.15 and a 200 day moving average of $68.44. The stock has a market cap of $4.49 billion, a P/E ratio of 20.37, a P/E/G ratio of 2.02 and a beta of 1.20. Kontoor Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $83.50. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.49%. Kontoor Brands’s dividend payout ratio is currently 50.63%.

Analyst Ratings Changes

Several equities research analysts have commented on KTB shares. Stifel Nicolaus upped their price objective on shares of Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a report on Monday. Barclays upped their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Guggenheim upped their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.33.

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.