Harvest Fund Management Co. Ltd Takes Position in Kontoor Brands, Inc. (NYSE:KTB)

Harvest Fund Management Co. Ltd bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,883 shares of the company's stock, valued at approximately $674,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. boosted its stake in shares of Kontoor Brands by 10.7% during the 4th quarter. Xponance Inc. now owns 4,025 shares of the company's stock worth $344,000 after acquiring an additional 388 shares during the last quarter. Cibc World Markets Corp bought a new position in Kontoor Brands in the 4th quarter worth $440,000. Gallacher Capital Management LLC lifted its position in Kontoor Brands by 10.7% during the fourth quarter. Gallacher Capital Management LLC now owns 10,665 shares of the company's stock valued at $911,000 after purchasing an additional 1,035 shares in the last quarter. Natixis Advisors LLC grew its holdings in Kontoor Brands by 1.5% during the fourth quarter. Natixis Advisors LLC now owns 17,640 shares of the company's stock valued at $1,507,000 after purchasing an additional 257 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Kontoor Brands by 23.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,933 shares of the company's stock valued at $1,275,000 after purchasing an additional 2,832 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

KTB traded down $0.86 on Tuesday, hitting $64.06. 541,817 shares of the company's stock traded hands, compared to its average volume of 494,640. The company's 50 day simple moving average is $77.86 and its 200-day simple moving average is $81.95. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.12 and a beta of 1.23.

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Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (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 analysts' expectations of $698.07 million. During the same quarter last year, the business posted $1.28 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.25%. Kontoor Brands's payout ratio is 47.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KTB. UBS Group lowered their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Barclays lowered their price target 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. Finally, Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

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.