Sequoia Financial Advisors LLC Has $270,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Sequoia Financial Advisors LLC lessened its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the company’s stock after selling 187 shares during the period. Sequoia Financial Advisors LLC’s holdings in Kontoor Brands were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KTB. Quest Partners LLC acquired a new position in Kontoor Brands during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new position in Kontoor Brands in the third quarter worth $30,000. Sound Income Strategies LLC bought a new position in Kontoor Brands in the third quarter worth $48,000. GAMMA Investing LLC lifted its position in Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after purchasing an additional 244 shares during the period. Finally, Signaturefd LLC lifted its position in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group raised their target price on Kontoor Brands from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus boosted 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. Barclays boosted 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, Guggenheim boosted 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.00.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $77.57 on Tuesday. The stock has a 50-day simple moving average of $77.05 and a 200 day simple moving average of $70.68. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. 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 $4.32 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.04 and a beta of 1.20.

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

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s payout ratio 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.