55,900 Shares in Kontoor Brands, Inc. (NYSE:KTB) Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. purchased a new position in Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 55,900 shares of the company’s stock, valued at approximately $4,774,000.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after purchasing an additional 26,759 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after purchasing an additional 44,287 shares during the last quarter. Geode Capital Management LLC raised its stake in Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after acquiring an additional 15,058 shares in the last quarter. Jennison Associates LLC boosted its position in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after acquiring an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after acquiring an additional 35,932 shares during the period. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KTB. Wells Fargo & Company reduced their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. UBS Group reduced their price target 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 dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Stock Up 1.2 %

KTB opened at $63.68 on Friday. The stock’s fifty day moving average is $78.25 and its 200-day moving average is $81.88. The company has a market capitalization of $3.52 billion, a PE ratio of 14.34, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80.

Kontoor Brands (NYSE:KTB) last announced 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. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) 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.