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

Abacus FCF Advisors LLC boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 46.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,522 shares of the company’s stock after purchasing an additional 14,136 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Kontoor Brands were worth $3,803,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

KTB has been the subject of a number of research analyst reports. UBS Group decreased their target price 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 reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Stock Performance

KTB opened at $56.00 on Tuesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market capitalization of $3.10 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The business has a fifty day simple moving average of $72.78 and a 200 day simple moving average of $81.12. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year 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, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period in the prior year, the company posted $1.28 earnings per share. Kontoor Brands’s revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

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

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.