7,010 Shares in Kontoor Brands, Inc. (NYSE:KTB) Acquired by Simplicity Solutions LLC

Simplicity Solutions LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,010 shares of the company’s stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its position in Kontoor Brands by 7.3% in the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock worth $295,000 after buying an additional 418 shares during the last quarter. Raymond James & Associates grew its position in Kontoor Brands by 8.1% in the first quarter. Raymond James & Associates now owns 24,441 shares of the company’s stock worth $1,011,000 after buying an additional 1,821 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Kontoor Brands by 4.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company’s stock worth $442,000 after buying an additional 439 shares during the last quarter. Citigroup Inc. grew its position in Kontoor Brands by 3.5% in the first quarter. Citigroup Inc. now owns 45,858 shares of the company’s stock worth $1,895,000 after buying an additional 1,561 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Kontoor Brands by 2.1% during the 1st quarter. Bank of Montreal Can now owns 17,999 shares of the company’s stock worth $771,000 after purchasing an additional 362 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

NYSE KTB opened at $55.40 on Friday. The stock has a market cap of $3.09 billion, a P/E ratio of 13.65, a PEG ratio of 1.45 and a beta of 1.13. The company’s 50-day simple moving average is $59.26 and its 200 day simple moving average is $55.78. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $64.49. 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 earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.61%. Kontoor Brands’s payout ratio is currently 49.26%.

Analysts Set New Price Targets

Several research firms have weighed in on KTB. UBS Group lifted their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Barclays cut their target price on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.40.

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.