Quest Partners LLC Takes $27,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Quest Partners LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 415 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in Kontoor Brands during the fourth quarter worth $32,000. Signaturefd LLC increased its stake in shares of Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after purchasing an additional 324 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Kontoor Brands by 22.7% during the 1st quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after purchasing an additional 293 shares during the last quarter. Blue Trust Inc. lifted its stake in Kontoor Brands by 72.4% in the 2nd quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock valued at $95,000 after buying an additional 660 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Kontoor Brands in the 1st quarter valued at about $165,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on KTB. Stifel Nicolaus boosted their price objective on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays boosted their price target on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Guggenheim increased their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $78.83.

Kontoor Brands Trading Up 1.4 %

KTB opened at $78.72 on Friday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company’s 50 day simple moving average is $71.59 and its two-hundred day simple moving average is $66.79. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $79.06. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43.

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

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. Kontoor Brands’s payout ratio is 50.63%.

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.