Hillsdale Investment Management Inc. Takes Position in Kontoor Brands, Inc. (NYSE:KTB)

Hillsdale Investment Management Inc. acquired a new position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,900 shares of the company's stock, valued at approximately $4,774,000. Hillsdale Investment Management Inc. owned 0.10% of Kontoor Brands at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company's stock worth $1,422,000 after acquiring an additional 1,087 shares during the last quarter. Quest Partners LLC raised its position in shares of Kontoor Brands by 2,368.7% during the 3rd quarter. Quest Partners LLC now owns 10,245 shares of the company's stock valued at $838,000 after buying an additional 9,830 shares during the period. Intech Investment Management LLC raised its stake in shares of Kontoor Brands by 222.2% in the 3rd quarter. Intech Investment Management LLC now owns 13,038 shares of the company's stock valued at $1,066,000 after acquiring an additional 8,991 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kontoor Brands by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company's stock worth $54,089,000 after purchasing an additional 17,974 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Kontoor Brands in the 3rd quarter valued at about $3,448,000. 93.06% of the stock is currently owned by institutional investors.

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Kontoor Brands Price Performance

Shares of KTB stock traded up $0.38 during mid-day trading on Wednesday, reaching $64.45. The company's stock had a trading volume of 435,030 shares, compared to its average volume of 494,397. The firm's 50-day moving average is $77.45 and its two-hundred day moving average is $81.89. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The company has a market cap of $3.57 billion, a P/E ratio of 14.51, a PEG ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. On average, research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.23%. Kontoor Brands's dividend payout ratio is presently 47.60%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company decreased 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, Barclays lowered their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Kontoor Brands Company 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.