Meritage Portfolio Management Has $5.38 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Meritage Portfolio Management reduced its position in Kontoor Brands, Inc. (NYSE:KTB) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,232 shares of the company’s stock after selling 527 shares during the quarter. Meritage Portfolio Management’s holdings in Kontoor Brands were worth $5,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions 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 increased its holdings in shares of Kontoor Brands by 5,710.0% during the third 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 in the last quarter. Oakworth Capital Inc. boosted its position in shares of Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after buying an additional 478 shares during the last quarter. Ronald Blue Trust Inc. boosted its position in Kontoor Brands by 225.8% in the third quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock worth $46,000 after purchasing an additional 761 shares during the last quarter. 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 buying an additional 715 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. The Goldman Sachs Group raised their price target on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. UBS Group lifted 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. Finally, Barclays reduced their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.40.

Kontoor Brands Price Performance

KTB traded up $0.58 during trading on Friday, reaching $62.38. The stock had a trading volume of 365,844 shares, compared to its average volume of 551,348. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $64.49. The stock has a 50 day moving average of $59.00 and a two-hundred day moving average of $56.34. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. 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 (NYSE:KTB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.21%. Kontoor Brands’s dividend payout ratio is presently 49.26%.

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.