Gallacher Capital Management LLC Grows Position in Kontoor Brands, Inc. (NYSE:KTB)

Gallacher Capital Management LLC increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,665 shares of the company’s stock after purchasing an additional 1,035 shares during the period. Gallacher Capital Management LLC’s holdings in Kontoor Brands were worth $911,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands during the fourth quarter valued at $29,000. Fortitude Family Office LLC lifted 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 buying an additional 334 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after buying an additional 503 shares during the period. GAMMA Investing LLC lifted its stake in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in Kontoor Brands in the fourth quarter worth about $98,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $62.21 on Friday. The firm has a market capitalization of $3.44 billion, a P/E ratio of 14.01, a PEG ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a 50 day moving average price of $80.66 and a 200 day moving average price of $82.33. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same quarter last year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KTB. Wells Fargo & Company lowered their price objective 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. Barclays lowered their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

About Kontoor Brands

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.