James Investment Research Inc. Purchases New Shares in Kontoor Brands, Inc. (NYSE:KTB)

James Investment Research Inc. bought a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,646 shares of the company's stock, valued at approximately $2,016,000.

Several other hedge funds also recently modified their holdings of KTB. Quest Partners LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Kontoor Brands during the third quarter valued at approximately $30,000. 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 valued at $32,000 after purchasing an additional 274 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Kontoor Brands during the third quarter worth about $48,000. Finally, GAMMA Investing LLC increased its holdings in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company's stock worth $57,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Wall Street Analysts Forecast Growth

KTB has been the subject of several analyst reports. Guggenheim increased their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus downgraded Kontoor Brands from a "buy" rating to a "hold" rating and raised their target price for the stock from $89.00 to $93.00 in a research report on Friday. Barclays boosted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Kontoor Brands presently has an average rating of "Moderate Buy" and an average target price of $95.00.

Kontoor Brands Price Performance

KTB stock traded down $3.98 during mid-day trading on Friday, hitting $81.65. 1,159,909 shares of the stock were exchanged, compared to its average volume of 373,227. The business has a fifty day moving average price of $77.81 and a 200 day moving average price of $71.46. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19. Kontoor Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $89.76. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.43.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.12. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Kontoor Brands's previous quarterly dividend of $0.50. Kontoor Brands's dividend payout ratio (DPR) is 45.05%.

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.