Kontoor Brands, Inc. (NYSE:KTB) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Kontoor Brands, Inc. (NYSE:KTB) by 53.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the company’s stock after acquiring an additional 244 shares during the period. GAMMA Investing LLC’s holdings in Kontoor Brands were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KTB. Mather Group LLC. bought a new position in shares of Kontoor Brands in the first quarter valued at approximately $165,000. Azzad Asset Management Inc. ADV boosted its holdings in shares of Kontoor Brands by 3.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 34,834 shares of the company’s stock valued at $2,099,000 after acquiring an additional 1,078 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Kontoor Brands by 2.6% in the first quarter. Principal Financial Group Inc. now owns 278,641 shares of the company’s stock valued at $16,788,000 after acquiring an additional 6,949 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Kontoor Brands by 4.3% in the first quarter. Commonwealth Equity Services LLC now owns 13,291 shares of the company’s stock valued at $801,000 after acquiring an additional 546 shares in the last quarter. Finally, Vest Financial LLC acquired a new stake in Kontoor Brands during the first quarter valued at approximately $842,000. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on KTB shares. Guggenheim increased their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays increased their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on shares of Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $80.33.

Kontoor Brands Stock Up 1.5 %

Shares of NYSE:KTB opened at $83.03 on Thursday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The company has a market cap of $4.64 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. Kontoor Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $83.50. The firm has a 50 day simple moving average of $75.79 and a 200 day simple moving average of $69.46.

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

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.41%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

About Kontoor Brands

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.