Zurcher Kantonalbank Zurich Cantonalbank Has $1.28 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kontoor Brands, Inc. (NYSE:KTB) by 25.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,029 shares of the company’s stock after purchasing an additional 3,005 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kontoor Brands were worth $1,284,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the 4th quarter valued at about $29,000. Fortitude Family Office LLC lifted its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares during the last quarter. Tompkins Financial Corp acquired a new stake in Kontoor Brands in the 4th quarter valued at about $98,000. Finally, R Squared Ltd acquired a new stake in Kontoor Brands in the 4th quarter valued at about $102,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KTB has been the subject of several recent analyst reports. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group lowered their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Stock Down 1.9 %

Kontoor Brands stock opened at $62.12 on Wednesday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The company’s 50-day moving average price is $79.70 and its two-hundred day moving average price is $82.22. The stock has a market cap of $3.44 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same period last year, the firm earned $1.28 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.35%. Kontoor Brands’s dividend payout ratio is presently 47.60%.

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.