Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 65.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,662 shares of the company's stock after acquiring an additional 18,861 shares during the period. Jones Financial Companies Lllp owned about 0.09% of Kontoor Brands worth $4,071,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock valued at $408,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC raised its stake in shares of Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after acquiring an additional 182 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of Kontoor Brands by 7.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company's stock valued at $252,000 after acquiring an additional 197 shares during the period. UMB Bank n.a. raised its stake in shares of Kontoor Brands by 0.4% in the 4th quarter. UMB Bank n.a. now owns 51,305 shares of the company's stock valued at $4,382,000 after acquiring an additional 210 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock worth $32,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 93.06% of the company's stock.

Remove Ads

Kontoor Brands Stock Down 1.2 %

Shares of KTB traded down $0.76 during midday trading on Friday, hitting $60.41. The company had a trading volume of 686,413 shares, compared to its average volume of 681,541. The company's 50 day moving average price is $83.17 and its 200 day moving average price is $82.68. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KTB shares. Barclays dropped their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, UBS Group dropped their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.17.

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.