Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 47.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,172 shares of the company’s stock after selling 1,043 shares during the quarter. Blue Trust Inc.’s holdings in Kontoor Brands were worth $100,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands during the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its position in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the third quarter worth approximately $32,000. Fortitude Family Office LLC boosted its position in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in 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. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $88.01 on Friday. The company’s fifty day simple moving average is $87.12 and its 200-day simple moving average is $82.91. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market cap of $4.85 billion, a PE ratio of 19.82, a P/E/G ratio of 2.12 and a beta of 1.19.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 46.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KTB shares. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim increased their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group cut their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $96.33.

About Kontoor Brands

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.