6,136 Shares in Kontoor Brands, Inc. (NYSE:KTB) Acquired by Pitcairn Co.

Pitcairn Co. purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,136 shares of the company’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at $29,000. Huntington National Bank grew its stake in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 purchasing an additional 334 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after purchasing an additional 503 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

NYSE:KTB opened at $57.72 on Friday. The company has a 50 day moving average price of $73.49 and a 200-day moving average price of $81.24. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.60%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KTB shares. Barclays cut their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, UBS Group decreased their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

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.