Xponance Inc. Purchases 388 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Xponance Inc. raised its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,025 shares of the company’s stock after acquiring an additional 388 shares during the period. Xponance Inc.’s holdings in Kontoor Brands were worth $344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KTB. HHM Wealth Advisors LLC acquired a new position in Kontoor Brands during the 4th quarter valued at $29,000. Fortitude Family Office LLC increased its holdings in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after buying an additional 503 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in Kontoor Brands during the fourth quarter worth about $98,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Barclays reduced their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $65.42 on Friday. The business has a 50 day simple moving average of $76.64 and a 200 day simple moving average of $81.66. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market capitalization of $3.62 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80.

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

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 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.