Envestnet Asset Management Inc. lowered its stake in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,627 shares of the company’s stock after selling 2,272 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of Kontoor Brands worth $4,659,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Coston McIsaac & Partners bought a new stake in shares of Kontoor Brands in the second quarter worth $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Kontoor Brands in the second quarter worth $109,000. Tower Research Capital LLC TRC lifted its position in shares of Kontoor Brands by 77.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the company’s stock worth $129,000 after purchasing an additional 1,674 shares in the last quarter. US Bancorp DE lifted its position in shares of Kontoor Brands by 60.4% in the second quarter. US Bancorp DE now owns 4,867 shares of the company’s stock worth $163,000 after purchasing an additional 1,833 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Kontoor Brands by 70.6% in the second quarter. SG Americas Securities LLC now owns 5,435 shares of the company’s stock worth $181,000 after purchasing an additional 2,249 shares in the last quarter.
Kontoor Brands Trading Up 1.7 %
Shares of Kontoor Brands stock opened at $52.96 on Friday. The firm has a 50-day moving average of $45.56 and a 200-day moving average of $40.94. The stock has a market cap of $2.94 billion, a PE ratio of 12.32, a PEG ratio of 1.36 and a beta of 1.16. Kontoor Brands, Inc. has a 52-week low of $30.98 and a 52-week high of $53.83. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.78 and a current ratio of 2.23.
Kontoor Brands (NYSE:KTB – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. Kontoor Brands had a net margin of 9.33% and a return on equity of 124.39%. The business had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $666.78 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. Kontoor Brands’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.75 EPS for the current year.
Kontoor Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 10th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.92 annualized dividend and a yield of 3.63%. Kontoor Brands’s dividend payout ratio is 44.65%.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Barclays cut their price objective on shares of Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Guggenheim lowered their target price on shares of Kontoor Brands from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $48.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Williams Trading upgraded shares of Kontoor Brands from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, January 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $51.50.
About Kontoor Brands
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.
Further Reading
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