Corient Private Wealth LLC Sells 530 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Corient Private Wealth LLC reduced its stake in Kontoor Brands, Inc. (NYSE:KTB) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,806 shares of the company’s stock after selling 530 shares during the quarter. Corient Private Wealth LLC’s holdings in Kontoor Brands were worth $838,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new position in Kontoor Brands in the fourth quarter valued at about $29,000. Fortitude Family Office LLC raised its holdings in shares of 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 purchasing an additional 334 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after purchasing an additional 503 shares during the last quarter. GAMMA Investing LLC grew its holdings in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in Kontoor Brands in the fourth quarter worth $98,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Up 1.6 %

Shares of Kontoor Brands stock opened at $65.42 on Friday. The company’s 50-day moving average price is $76.64 and its 200-day moving average price is $81.66. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.18%. Kontoor Brands’s payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KTB. Barclays dropped their price target 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 cut their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands 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.