Homestead Advisers Corp Invests $1.95 Million in Kontoor Brands, Inc. (NYSE:KTB)

Homestead Advisers Corp purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,800 shares of the company’s stock, valued at approximately $1,947,000.

Other large investors have also recently added to or reduced their stakes in the company. Mendel Money Management boosted its holdings in shares of Kontoor Brands by 2.8% in the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock valued at $421,000 after buying an additional 135 shares during the period. Janney Montgomery Scott LLC boosted its stake in Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC boosted its stake in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after acquiring an additional 182 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Kontoor Brands by 7.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock valued at $252,000 after purchasing an additional 197 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Kontoor Brands by 0.4% during the 4th quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock worth $4,382,000 after purchasing an additional 210 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $64.45 on Thursday. The firm’s 50-day simple moving average is $77.03 and its 200 day simple moving average is $81.77. The stock has a market cap of $3.57 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.12 and a beta of 1.23. 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 fifty-two week low of $52.95 and a fifty-two week high of $96.80.

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

Kontoor Brands Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.23%. Kontoor Brands’s dividend payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

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

Kontoor Brands 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.