HighTower Advisors LLC Has $540,000 Holdings in Kontoor Brands, Inc. (NYSE:KTB)

HighTower Advisors LLC raised its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,328 shares of the company’s stock after acquiring an additional 231 shares during the period. HighTower Advisors LLC’s holdings in Kontoor Brands were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. HHM Wealth Advisors LLC bought a new stake in Kontoor Brands in the 4th quarter valued at $29,000. Fortitude Family Office LLC boosted its stake in shares of 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 grew its holdings in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares during the period. Tompkins Financial Corp acquired a new position in Kontoor Brands in the fourth quarter valued at about $98,000. Finally, R Squared Ltd bought a new position in Kontoor Brands during the 4th quarter worth approximately $102,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Down 2.5 %

Shares of KTB opened at $63.78 on Friday. The stock has a market capitalization of $3.53 billion, a PE ratio of 14.36, a P/E/G ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm’s 50 day moving average is $76.20 and its 200-day moving average is $81.67.

Kontoor Brands (NYSE:KTB) last released 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 firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same period last year, the firm earned $1.28 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current 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 issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.26%. Kontoor Brands’s payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

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

About Kontoor Brands

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.