Blue Trust Inc. Grows Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Blue Trust Inc. grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 41.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,215 shares of the company’s stock after buying an additional 644 shares during the quarter. Blue Trust Inc.’s holdings in Kontoor Brands were worth $181,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KTB. Sound Income Strategies LLC bought a new position in shares of Kontoor Brands in the 3rd quarter worth about $48,000. Ritholtz Wealth Management bought a new position in shares of Kontoor Brands in the 3rd quarter worth approximately $491,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Kontoor Brands by 45.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,100 shares of the company’s stock valued at $2,789,000 after acquiring an additional 10,600 shares during the period. Kesler Norman & Wride LLC purchased a new position in shares of Kontoor Brands during the 3rd quarter valued at about $604,000. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Kontoor Brands by 2.8% in the third quarter. Azzad Asset Management Inc. ADV now owns 36,210 shares of the company’s stock worth $2,961,000 after purchasing an additional 983 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KTB has been the subject of several recent analyst reports. Guggenheim upped their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group raised their target price on shares of Kontoor Brands from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays boosted their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Kontoor Brands Trading Up 0.4 %

NYSE KTB opened at $76.88 on Friday. The company has a fifty day simple moving average of $77.05 and a two-hundred day simple moving average of $70.56. Kontoor Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $84.21. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The stock has a market cap of $4.28 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.04 and a beta of 1.20.

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

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.71%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is currently 47.28%.

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.