Sequoia Financial Advisors LLC Buys Shares of 3,867 Kontoor Brands, Inc. (NYSE:KTB)

Sequoia Financial Advisors LLC bought a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,867 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KTB. McGlone Suttner Wealth Management Inc. acquired a new stake in Kontoor Brands in the 4th quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC grew its holdings in Kontoor Brands by 5,710.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after buying an additional 571 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in Kontoor Brands by 225.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after buying an additional 761 shares during the last quarter. Quarry LP acquired a new stake in Kontoor Brands in the 1st quarter valued at approximately $52,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock worth $57,000 after purchasing an additional 715 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Up 1.9 %

NYSE KTB opened at $56.45 on Friday. The stock has a fifty day moving average of $59.15 and a 200-day moving average of $55.87. The stock has a market capitalization of $3.15 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. Kontoor Brands, Inc. has a 52 week low of $37.10 and a 52 week high of $64.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66.

Kontoor Brands (NYSE:KTB) last released its earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. On average, equities research analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.54%. Kontoor Brands’s dividend payout ratio (DPR) is presently 49.26%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. UBS Group raised their target price on 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 raised their target price on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Barclays cut their target price on 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, The Goldman Sachs Group lifted their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price 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.