Raymond James Financial Inc. Invests $6.31 Million in Kontoor Brands, Inc. (NYSE:KTB)

Raymond James Financial Inc. acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 73,931 shares of the company’s stock, valued at approximately $6,314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. Dana Investment Advisors Inc. acquired a new stake in Kontoor Brands in the 4th quarter valued at $654,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after acquiring an additional 35,932 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Kontoor Brands by 65.5% in the fourth quarter. Jones Financial Companies Lllp now owns 47,662 shares of the company’s stock valued at $4,071,000 after acquiring an additional 18,861 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Kontoor Brands by 206.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,560 shares of the company’s stock valued at $133,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Kontoor Brands by 2.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 27,407 shares of the company’s stock worth $2,341,000 after acquiring an additional 608 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analysts Set New Price Targets

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

Kontoor Brands Price Performance

NYSE:KTB opened at $64.93 on Tuesday. 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 12-month low of $52.95 and a 12-month high of $96.80. The stock’s 50 day moving average price is $77.86 and its two-hundred day moving average price is $81.95. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 47.60%.

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.