Abacus FCF Advisors LLC Buys 14,136 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Abacus FCF Advisors LLC lifted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 46.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,522 shares of the company’s stock after acquiring an additional 14,136 shares during the period. Abacus FCF Advisors LLC owned 0.08% of Kontoor Brands worth $3,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new position in Kontoor Brands during the fourth quarter valued at approximately $29,000. Huntington National Bank boosted its holdings in shares of Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC grew its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after acquiring an additional 503 shares during the period. Finally, GAMMA Investing LLC lifted its position in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KTB. Wells Fargo & Company lowered their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays cut their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Trading Down 3.3 %

Kontoor Brands stock opened at $56.00 on Tuesday. The business has a 50 day moving average price of $72.78 and a two-hundred day moving average price of $81.12. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

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.