Corient Private Wealth LLC Has $838,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Corient Private Wealth LLC lessened its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,806 shares of the company’s stock after selling 530 shares during the quarter. Corient Private Wealth LLC’s holdings in Kontoor Brands were worth $838,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KTB. Intech Investment Management LLC lifted its holdings in Kontoor Brands by 222.2% in the third quarter. Intech Investment Management LLC now owns 13,038 shares of the company’s stock valued at $1,066,000 after buying an additional 8,991 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Kontoor Brands by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock worth $54,089,000 after acquiring an additional 17,974 shares in the last quarter. Citigroup Inc. boosted its position in shares of Kontoor Brands by 76.5% during the 3rd quarter. Citigroup Inc. now owns 70,738 shares of the company’s stock valued at $5,785,000 after purchasing an additional 30,650 shares in the last quarter. Bridgewater Associates LP grew its stake in Kontoor Brands by 20.0% during the third quarter. Bridgewater Associates LP now owns 38,981 shares of the company’s stock worth $3,188,000 after purchasing an additional 6,497 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kontoor Brands by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,225 shares of the company’s stock worth $9,668,000 after purchasing an additional 3,044 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KTB. Wells Fargo & Company cut their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group decreased their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Barclays dropped their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $65.42 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business has a 50 day moving average price of $76.64 and a 200-day moving average price of $81.66. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The company has a market cap of $3.62 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.18%. Kontoor Brands’s dividend payout ratio is currently 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.