Blue Trust Inc. Acquires 644 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Blue Trust Inc. boosted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 41.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,215 shares of the company’s stock after purchasing an additional 644 shares during the quarter. Blue Trust Inc.’s holdings in Kontoor Brands were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Kontoor Brands by 10.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after buying an additional 201,399 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Kontoor Brands by 1.0% in the second quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company’s stock valued at $84,046,000 after purchasing an additional 12,019 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Kontoor Brands by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock worth $82,707,000 after acquiring an additional 60,926 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Kontoor Brands by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock valued at $47,137,000 after buying an additional 7,526 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Kontoor Brands by 351.7% in the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after purchasing an additional 270,427 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Kontoor Brands from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Stifel Nicolaus increased their price target on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Barclays increased their price target on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Guggenheim raised their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Kontoor Brands Trading Up 0.4 %

NYSE:KTB opened at $76.88 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The firm’s 50 day moving average is $77.05 and its 200 day moving average is $70.56. Kontoor Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $84.21. The stock has a market capitalization of $4.28 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20.

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

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.28%.

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.