Kontoor Brands, Inc. (NYSE:KTB) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Kontoor Brands, Inc. (NYSE:KTB) by 229.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 722 shares of the company’s stock after purchasing an additional 503 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kontoor Brands were worth $62,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares in the last quarter. Walleye Capital LLC purchased a new stake in Kontoor Brands in the 3rd quarter valued at $8,479,000. Barclays PLC grew its holdings in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after buying an additional 77,137 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Kontoor Brands in the 4th quarter valued at $6,314,000. Finally, Pacer Advisors Inc. grew its holdings in Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $63.50 on Thursday. The business has a 50-day moving average of $79.20 and a 200 day moving average of $82.09. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. During the same period last year, the business posted $1.28 EPS. Kontoor Brands’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 3.28%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

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.