Mather Group LLC. Has $197,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Mather Group LLC. reduced its position in Kontoor Brands, Inc. (NYSE:KTB) by 6.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,405 shares of the company’s stock after selling 164 shares during the quarter. Mather Group LLC.’s holdings in Kontoor Brands were worth $197,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KTB. Quest Partners LLC bought a new stake in Kontoor Brands during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC grew its holdings in Kontoor Brands by 53.5% during the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC lifted its stake in Kontoor Brands by 49.9% during the 2nd quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after acquiring an additional 324 shares in the last quarter. Headlands Technologies LLC lifted its stake in Kontoor Brands by 22.7% during the 1st quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after acquiring an additional 293 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Kontoor Brands by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after acquiring an additional 660 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 3.9 %

Shares of KTB opened at $81.90 on Friday. Kontoor Brands, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $83.50. The business has a 50-day moving average of $74.69 and a 200 day moving average of $68.76. The firm has a market cap of $4.56 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s payout ratio is currently 47.28%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KTB. Barclays increased their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Guggenheim increased their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.33.

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.