Skba Capital Management LLC Lowers Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Skba Capital Management LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,384 shares of the company's stock after selling 85,260 shares during the quarter. Kontoor Brands accounts for about 2.5% of Skba Capital Management LLC's investment portfolio, making the stock its 8th largest holding. Skba Capital Management LLC owned approximately 0.33% of Kontoor Brands worth $15,748,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands during the 4th quarter valued at $29,000. Fortitude Family Office LLC raised its position 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 valued at $36,000 after acquiring an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after buying an additional 503 shares during the period. GAMMA Investing LLC grew its stake in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares during the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Kontoor Brands during the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

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Kontoor Brands Stock Down 0.3 %

KTB traded down $0.17 during trading on Friday, hitting $57.72. The company had a trading volume of 1,287,896 shares, compared to its average volume of 522,693. 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, Inc. has a one year low of $52.95 and a one year high of $96.80. The company has a market capitalization of $3.19 billion, a PE ratio of 13.00, a PEG ratio of 2.12 and a beta of 0.93. The firm's 50-day moving average price is $73.49 and its 200 day moving average price is $81.21.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly 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 business had revenue of $699.00 million during the quarter, compared to analysts' expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. As a group, equities analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, UBS Group dropped 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 note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.