Harvest Fund Management Co. Ltd Buys New Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Harvest Fund Management Co. Ltd bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,883 shares of the company’s stock, valued at approximately $674,000.

Several other institutional investors also recently bought and sold shares of the stock. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC lifted its holdings in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after buying an additional 334 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after buying an additional 503 shares during the period. GAMMA Investing LLC lifted its holdings in Kontoor Brands by 26.0% in 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 period. Finally, Tompkins Financial Corp purchased a new stake in Kontoor Brands in the 4th quarter worth approximately $98,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Down 0.8 %

Shares of NYSE:KTB opened at $63.02 on Friday. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The firm has a market capitalization of $3.49 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.12 and a beta of 1.23. The stock has a 50 day moving average price of $78.70 and a 200-day moving average price of $81.96. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the prior year, the company earned $1.28 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 3.30%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KTB. UBS Group dropped their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on 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. According to MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Company 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.