Commonwealth Equity Services LLC Has $1.28 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Commonwealth Equity Services LLC lifted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,933 shares of the company’s stock after acquiring an additional 2,832 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Kontoor Brands were worth $1,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in Kontoor Brands in the third quarter valued at approximately $332,000. Janus Henderson Group PLC grew its stake in shares of Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after buying an additional 334 shares during the last quarter. Finally, Level Wealth Management LLC bought a new stake in Kontoor Brands during the fourth quarter worth $350,000. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on KTB. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Stock Performance

NYSE KTB opened at $63.78 on Monday. The stock has a market cap of $3.53 billion, a PE ratio of 14.36, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a 50-day moving average of $76.20 and a 200-day moving average of $81.74. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the business posted $1.28 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Kontoor Brands Company 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.