Gallacher Capital Management LLC Acquires 9,745 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Gallacher Capital Management LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB) by 185.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,996 shares of the company’s stock after acquiring an additional 9,745 shares during the quarter. Gallacher Capital Management LLC’s holdings in Kontoor Brands were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. acquired a new stake in shares of Kontoor Brands during the 4th quarter valued at $32,000. Signaturefd LLC boosted its stake in shares of Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after purchasing an additional 324 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after purchasing an additional 293 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Kontoor Brands by 72.4% during the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after purchasing an additional 660 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Kontoor Brands in the first quarter valued at approximately $165,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Down 0.5 %

Kontoor Brands stock opened at $72.32 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.95 and a beta of 1.20. Kontoor Brands, Inc. has a 52-week low of $39.90 and a 52-week high of $75.17. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The firm has a 50 day moving average price of $69.54 and a two-hundred day moving average price of $65.85.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. Equities analysts predict that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is 50.63%.

Analyst Ratings Changes

Several research firms recently commented on KTB. Barclays lifted their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Guggenheim increased their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $78.83.

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.