Yousif Capital Management LLC Acquires 514 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Yousif Capital Management LLC increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,430 shares of the company’s stock after purchasing an additional 514 shares during the quarter. Yousif Capital Management LLC’s holdings in Kontoor Brands were worth $1,587,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KTB. Vanguard Group Inc. lifted its holdings in shares of Kontoor Brands by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after purchasing an additional 20,964 shares in the last quarter. FMR LLC lifted its stake in Kontoor Brands by 3.1% in the 3rd quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after acquiring an additional 117,815 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Kontoor Brands by 402.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after acquiring an additional 802,166 shares in the last quarter. Northern Trust Corp boosted its position in Kontoor Brands by 0.7% during the 3rd quarter. Northern Trust Corp now owns 954,563 shares of the company’s stock worth $41,915,000 after acquiring an additional 6,754 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kontoor Brands by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 591,683 shares of the company’s stock worth $25,981,000 after acquiring an additional 24,879 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. UBS Group boosted 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. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays dropped their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price target on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.40.

Kontoor Brands Trading Up 8.4 %

Kontoor Brands stock opened at $67.37 on Friday. The stock has a 50-day simple moving average of $59.06 and a 200 day simple moving average of $57.03. The stock has a market capitalization of $3.76 billion, a P/E ratio of 16.59, a PEG ratio of 1.65 and a beta of 1.11. 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, Inc. has a 52 week low of $37.10 and a 52 week high of $69.69.

Kontoor Brands (NYSE:KTB) last issued 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). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The business had revenue of $669.80 million for the quarter, compared to the consensus estimate of $720.70 million. Analysts expect that Kontoor Brands, Inc. will post 4.7 earnings per share for the current 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s payout ratio is presently 49.26%.

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.