EverSource Wealth Advisors LLC Increases Stake in Kontoor Brands, Inc. (NYSE:KTB)

EverSource Wealth Advisors LLC increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 229.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 722 shares of the company’s stock after buying an additional 503 shares during the period. EverSource Wealth Advisors LLC’s holdings in Kontoor Brands were worth $62,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Kontoor Brands during the third quarter valued at $332,000. Janus Henderson Group PLC increased its stake in shares of Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares during the period. Principal Financial Group Inc. increased its stake in shares of Kontoor Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares during the period. Fortitude Family Office LLC boosted its position 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 purchasing an additional 334 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Kontoor Brands by 6.7% during the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Up 2.5 %

Shares of KTB stock opened at $63.50 on Thursday. The stock has a 50 day moving average of $79.20 and a 200 day moving average of $82.09. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The stock has a market cap of $3.51 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last announced 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 business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KTB shares. Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

About Kontoor Brands

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.