Oakworth Capital Inc. Purchases 478 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Oakworth Capital Inc. boosted its position in Kontoor Brands, Inc. (NYSE:KTB) by 157.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 781 shares of the company’s stock after buying an additional 478 shares during the period. Oakworth Capital Inc.’s holdings in Kontoor Brands were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Kontoor Brands during the 4th quarter valued at $25,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Kontoor Brands by 5,710.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 571 shares during the period. Ronald Blue Trust Inc. lifted its position in shares of Kontoor Brands by 225.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after acquiring an additional 761 shares during the period. Quarry LP bought a new stake in shares of Kontoor Brands during the 1st quarter valued at $52,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after acquiring an additional 715 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Shares of KTB stock opened at $54.84 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $64.49. The company has a market cap of $3.06 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.45 and a beta of 1.13. The business has a fifty day simple moving average of $59.39 and a 200 day simple moving average of $55.78.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The business had revenue of $669.80 million for the quarter, compared to the consensus estimate of $720.70 million. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, March 8th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.65%. Kontoor Brands’s payout ratio is presently 49.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KTB. The Goldman Sachs Group upped their target price on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group upped their target price on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Barclays dropped their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Wells Fargo & Company upped their price objective on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.40.

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.