Oakworth Capital Inc. Has $49,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Oakworth Capital Inc. increased its position in Kontoor Brands, Inc. (NYSE:KTB) by 157.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 781 shares of the company’s stock after buying an additional 478 shares during the period. Oakworth Capital Inc.’s holdings in Kontoor Brands were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Kontoor Brands by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,506 shares of the company’s stock worth $718,000 after buying an additional 1,160 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Kontoor Brands in the fourth quarter worth approximately $220,000. Strs Ohio increased its holdings in Kontoor Brands by 480.0% in the fourth quarter. Strs Ohio now owns 2,900 shares of the company’s stock worth $181,000 after buying an additional 2,400 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Kontoor Brands in the fourth quarter worth approximately $1,560,000. Finally, Simplicity Solutions LLC acquired a new position in Kontoor Brands in the fourth quarter worth approximately $438,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of recent analyst reports. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. The Goldman Sachs Group upped their target price on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. UBS Group upped their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Barclays decreased their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Wells Fargo & Company upped their target price on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. 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 Stock Up 0.5 %

KTB opened at $54.84 on Thursday. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $64.49. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.45 and a beta of 1.13. The business has a 50 day moving average of $59.39 and a 200-day moving average of $55.78.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. The business had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.7 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were given a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 annualized dividend and a yield of 3.65%. Kontoor Brands’s dividend payout ratio (DPR) is currently 49.26%.

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.