Hillsdale Investment Management Inc. Has $7.61 Million Stock Holdings in Kontoor Brands, Inc. $KTB

Hillsdale Investment Management Inc. lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 17.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,400 shares of the company’s stock after buying an additional 14,000 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.17% of Kontoor Brands worth $7,610,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in Kontoor Brands by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock worth $168,428,000 after acquiring an additional 1,044,921 shares during the period. Norges Bank bought a new position in shares of Kontoor Brands during the second quarter worth approximately $45,762,000. Invesco Ltd. increased its holdings in shares of Kontoor Brands by 54.2% during the second quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock worth $81,924,000 after purchasing an additional 436,246 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Kontoor Brands by 134.3% in the second quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after buying an additional 268,604 shares during the period. Finally, Man Group plc boosted its stake in shares of Kontoor Brands by 23.7% in the second quarter. Man Group plc now owns 765,512 shares of the company’s stock valued at $50,501,000 after buying an additional 146,858 shares during the period. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Up 2.9%

Shares of NYSE KTB opened at $69.60 on Friday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 17.94 and a beta of 1.19. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $91.11. The stock has a 50-day moving average price of $62.65 and a two-hundred day moving average price of $71.57.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 3.0%. Kontoor Brands’s dividend payout ratio (DPR) is 54.64%.

Analyst Ratings Changes

A number of equities analysts have commented on KTB shares. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays set a $74.00 price target on Kontoor Brands in a research report on Tuesday, January 6th. BTIG Research reaffirmed a “buy” rating and issued a $95.00 price target on shares of Kontoor Brands in a research note on Tuesday, November 4th. Jefferies Financial Group assumed coverage on shares of Kontoor Brands in a research note on Wednesday, February 4th. They set a “hold” rating and a $65.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average target price of $84.67.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.