Monument Capital Management Raises Stake in Kontoor Brands, Inc. (NYSE:KTB)

Monument Capital Management increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 1,033.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,701 shares of the company's stock after acquiring an additional 34,375 shares during the quarter. Monument Capital Management owned approximately 0.07% of Kontoor Brands worth $3,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC acquired a new position in Kontoor Brands in the 4th quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 shares during the last quarter. Kennebec Savings Bank acquired a new position in Kontoor Brands in the 3rd quarter valued at about $32,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after purchasing an additional 334 shares during the period. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Up 3.7 %

Shares of NYSE KTB traded up $3.20 during midday trading on Wednesday, hitting $88.94. The company's stock had a trading volume of 833,571 shares, compared to its average volume of 501,304. The business's fifty day simple moving average is $87.18 and its two-hundred day simple moving average is $82.57. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands's payout ratio is 46.85%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. UBS Group lowered their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays increased their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a "buy" rating to a "hold" rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Finally, Guggenheim increased their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.67.

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.