Fox Run Management L.L.C. bought a new stake in Kontoor Brands, Inc. (NYSE:KTB – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 29,222 shares of the company’s stock, valued at approximately $1,785,000.
Other large investors also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its position in Kontoor Brands by 2,538.5% in the third quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares during the last quarter. Assetmark Inc. lifted its position in Kontoor Brands by 532.3% in the third quarter. Assetmark Inc. now owns 392 shares of the company’s stock valued at $31,000 after buying an additional 330 shares during the last quarter. Torren Management LLC acquired a new position in Kontoor Brands in the fourth quarter valued at about $27,000. Private Trust Co. NA acquired a new position in Kontoor Brands in the fourth quarter valued at about $31,000. Finally, Hantz Financial Services Inc. lifted its position in Kontoor Brands by 196.2% in the fourth quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock valued at $34,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.
Kontoor Brands Stock Up 3.4%
Shares of NYSE:KTB opened at $72.48 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. The firm has a market capitalization of $4.01 billion, a PE ratio of 14.67 and a beta of 0.89. The firm’s 50-day moving average is $70.83 and its two-hundred day moving average is $67.92. Kontoor Brands, Inc. has a 1 year low of $53.55 and a 1 year high of $87.00.
Kontoor Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. Kontoor Brands’s dividend payout ratio is 42.91%.
Wall Street Analyst Weigh In
A number of research analysts have commented on KTB shares. Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Barclays boosted their price target on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. UBS Group boosted their price target on shares of Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.20.
Read Our Latest Report on Kontoor Brands
Kontoor Brands Company Profile
Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.
Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.
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