Gallacher Capital Management LLC Increases Stake in Kontoor Brands, Inc. (NYSE:KTB)

Gallacher Capital Management LLC boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,665 shares of the company’s stock after acquiring an additional 1,035 shares during the quarter. Gallacher Capital Management LLC’s holdings in Kontoor Brands were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands during the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC increased its holdings in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 503 shares in the last quarter. GAMMA Investing LLC increased its holdings in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in Kontoor Brands in the fourth quarter valued at $98,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KTB. Wells Fargo & Company cut their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group cut their price objective on 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, Barclays cut their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Price Performance

NYSE:KTB opened at $62.21 on Friday. 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, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The firm has a market cap of $3.44 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The stock has a 50 day moving average of $80.66 and a two-hundred day moving average of $82.33.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 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 analysts’ expectations of $698.07 million. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.34%. 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.