Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 33.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,735 shares of the company’s stock after purchasing an additional 7,640 shares during the period. Ensign Peak Advisors Inc’s holdings in Kontoor Brands were worth $2,625,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands during the 4th quarter worth $29,000. Huntington National Bank boosted its position in shares of Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after purchasing an additional 503 shares in the last quarter. Quarry LP boosted its position in shares of Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after purchasing an additional 450 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Kontoor Brands during the 4th quarter worth $98,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on KTB shares. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Barclays increased their price objective on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and an average price target of $85.80.

Kontoor Brands Stock Performance

NYSE:KTB opened at $73.62 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $61.88 and a two-hundred day moving average price of $77.25. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The company has a market capitalization of $4.09 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 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 down 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.83%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.98%.

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.