EntryPoint Capital LLC Purchases Shares of 2,626 Kontoor Brands, Inc. (NYSE:KTB)

EntryPoint Capital LLC acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, HoldingsChannel reports. The fund acquired 2,626 shares of the company’s stock, valued at approximately $224,000.

Several other large investors have also made changes to their positions in the company. LPL Financial LLC increased its stake in Kontoor Brands by 35.7% during the fourth quarter. LPL Financial LLC now owns 34,529 shares of the company’s stock worth $2,949,000 after acquiring an additional 9,076 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Kontoor Brands during the 4th quarter worth about $1,187,000. Hillsdale Investment Management Inc. acquired a new stake in Kontoor Brands during the 4th quarter worth approximately $4,774,000. Sei Investments Co. raised its holdings in Kontoor Brands by 27.8% in the fourth quarter. Sei Investments Co. now owns 49,762 shares of the company’s stock valued at $4,250,000 after buying an additional 10,813 shares during the period. Finally, American Century Companies Inc. grew its stake in Kontoor Brands by 5.5% during the fourth quarter. American Century Companies Inc. now owns 40,774 shares of the company’s stock worth $3,483,000 after buying an additional 2,122 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on KTB. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group lowered 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. One 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $63.78 on Friday. 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 firm’s fifty day moving average price is $76.20 and its 200 day moving average price is $81.67. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month 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 the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 dividend yield of 3.26%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is currently 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.