Hillsdale Investment Management Inc. Makes New $4.77 Million Investment in Kontoor Brands, Inc. (NYSE:KTB)

Hillsdale Investment Management Inc. purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,900 shares of the company’s stock, valued at approximately $4,774,000. Hillsdale Investment Management Inc. owned about 0.10% of Kontoor Brands at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at about $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 grew its stake in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after buying an additional 1,087 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $63.68 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business has a 50 day moving average price of $78.25 and a two-hundred day moving average price of $81.88. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The firm has a market cap of $3.52 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter last year, the business posted $1.28 EPS. Kontoor Brands’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

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

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.