73,931 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 73,931 shares of the company's stock, valued at approximately $6,314,000. Raymond James Financial Inc. owned approximately 0.13% of Kontoor Brands as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC raised its stake in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after acquiring an additional 182 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of Kontoor Brands in the fourth quarter worth $98,000. Finally, R Squared Ltd bought a new position in shares of Kontoor Brands during the fourth quarter valued at $102,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of KTB stock traded down $1.61 during trading hours on Friday, reaching $63.78. The company had a trading volume of 563,107 shares, compared to its average volume of 515,521. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business has a fifty day moving average price of $76.64 and a 200-day moving average price of $81.66. 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 $3.53 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

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

Kontoor Brands Dividend Announcement

The firm also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, March 10th. Kontoor Brands's payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several brokerages recently commented on KTB. UBS Group cut 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. Barclays cut 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 decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.