Sanctuary Advisors LLC Cuts Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Sanctuary Advisors LLC trimmed its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,590 shares of the company’s stock after selling 465 shares during the period. Sanctuary Advisors LLC’s holdings in Kontoor Brands were worth $307,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands during the 4th quarter worth approximately $29,000. Farther Finance Advisors LLC increased its stake in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Kennebec Savings Bank purchased a new position in Kontoor Brands in the 3rd quarter valued at approximately $32,000. Fortitude Family Office LLC increased its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $62.43 on Wednesday. The business’s fifty day moving average price is $84.66 and its two-hundred day moving average price is $83.07. The stock has a market cap of $3.45 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KTB shares. Wells Fargo & Company raised their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group dropped their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.17.

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.