Gallacher Capital Management LLC Makes New $316,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Gallacher Capital Management LLC bought a new position in Kontoor Brands, Inc. (NYSE:KTB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,251 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KTB. AMG National Trust Bank lifted its stake in shares of Kontoor Brands by 18.5% in the fourth quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock valued at $26,335,000 after purchasing an additional 65,990 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $1,364,000. Intact Investment Management Inc. purchased a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $3,396,000. Nomura Holdings Inc. increased its stake in Kontoor Brands by 38.5% in the 4th quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock valued at $4,071,000 after purchasing an additional 18,121 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Kontoor Brands during the first quarter worth $2,013,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Insider Activity

In related news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the transaction, the chief executive officer now owns 318,188 shares in the company, valued at $22,756,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Susan Denise Sumner sold 4,713 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on KTB. Barclays increased their price objective on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, The Goldman Sachs Group increased their target price on Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Kontoor Brands Trading Down 0.1 %

Shares of KTB traded down $0.07 on Friday, hitting $65.18. 60,803 shares of the stock traded hands, compared to its average volume of 533,794. Kontoor Brands, Inc. has a 1 year low of $38.49 and a 1 year high of $74.90. The stock’s 50 day moving average is $68.88 and its two-hundred day moving average is $62.87. The firm has a market capitalization of $3.64 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.67 and a beta of 1.16. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 4.73 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

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.