AMG National Trust Bank Buys 65,990 Shares of Kontoor Brands, Inc. (NYSE:KTB)

AMG National Trust Bank increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTBFree Report) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,899 shares of the company’s stock after purchasing an additional 65,990 shares during the quarter. Kontoor Brands comprises about 0.8% of AMG National Trust Bank’s portfolio, making the stock its 27th biggest position. AMG National Trust Bank owned 0.75% of Kontoor Brands worth $26,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC grew its holdings in Kontoor Brands by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after acquiring an additional 172 shares during the period. Kinloch Capital LLC boosted its holdings in Kontoor Brands by 0.6% during the third quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after buying an additional 209 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Kontoor Brands by 1.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock worth $705,000 after buying an additional 250 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Kontoor Brands by 2.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock worth $554,000 after buying an additional 279 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Kontoor Brands by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock valued at $631,000 after acquiring an additional 335 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on KTB shares. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Barclays lifted their target price on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, UBS Group increased their price target on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $75.20.

Get Our Latest Analysis on Kontoor Brands

Kontoor Brands Stock Up 1.7 %

KTB traded up $1.17 during trading hours on Friday, hitting $70.17. 431,952 shares of the company’s stock were exchanged, compared to its average volume of 610,623. The stock’s 50-day moving average is $60.65 and its two-hundred day moving average is $58.75. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $70.30. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.85 and a beta of 1.11.

Kontoor Brands (NYSE:KTBGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.26. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. During the same quarter last year, the company earned $1.16 EPS. Kontoor Brands’s revenue for the quarter was down 5.4% compared to the same quarter last year. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.73 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s dividend payout ratio is currently 50.63%.

Kontoor Brands Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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