Azzad Asset Management Inc. ADV raised its holdings in Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,636 shares of the company’s stock after purchasing an additional 16,760 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Kontoor Brands were worth $4,122,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Transamerica Financial Advisors LLC lifted its stake in shares of Kontoor Brands by 335.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock valued at $25,000 after purchasing an additional 312 shares during the period. Torren Management LLC acquired a new position in Kontoor Brands during the fourth quarter worth about $27,000. Private Trust Co. NA purchased a new position in Kontoor Brands in the fourth quarter valued at about $31,000. Hantz Financial Services Inc. increased its holdings 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 in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Kontoor Brands during the fourth quarter worth $35,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Kontoor Brands Stock Performance
NYSE KTB opened at $84.55 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. Kontoor Brands, Inc. has a 1-year low of $53.55 and a 1-year high of $88.85. The firm has a market capitalization of $4.67 billion, a P/E ratio of 17.12 and a beta of 0.87. The business’s 50-day simple moving average is $74.87 and its 200-day simple moving average is $69.57.
Kontoor Brands Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands’s payout ratio is presently 42.91%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. initiated coverage on shares of Kontoor Brands in a research note on Monday, June 8th. They set an “overweight” rating and a $90.00 price target on the stock. Barclays lifted their price objective on Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Kontoor Brands in a research report on Friday, May 1st. Finally, Weiss Ratings lowered Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $91.20.
Check Out Our Latest Research Report on KTB
Insider Buying and Selling at Kontoor Brands
In other news, EVP Jennifer H. Broyles sold 4,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of the transaction, the executive vice president directly owned 40,261 shares in the company, valued at approximately $3,261,946.22. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
About Kontoor Brands
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.
Featured Articles
- Five stocks we like better than Kontoor Brands
- PriceSmart Stock Eyes $220 as Chile Expansion Fuels Growth
- Dollar Tree’s Turnaround Is Starting to Take Root
- Why Levi’s Digital Strategy Is Paying Off in a Big Way
- Constellation Brands: Beer Growth and Buybacks Mask Stock’s Slump
Want to see what other hedge funds are holding KTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kontoor Brands, Inc. (NYSE:KTB – Free Report).
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.
