EntryPoint Capital LLC Makes New $224,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

EntryPoint Capital LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,626 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new position in Kontoor Brands during the fourth quarter worth about $29,000. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 503 shares in the last quarter. GAMMA Investing LLC raised its holdings in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in Kontoor Brands during the fourth quarter worth $98,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Trading Down 2.5 %

Shares of KTB stock opened at $63.78 on Friday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.12 and a beta of 1.23. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $76.20 and a 200 day moving average price of $81.67. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.07. The business 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%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.26%. Kontoor Brands’s payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

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