Aigen Investment Management LP trimmed its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 79.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,493 shares of the company's stock after selling 9,756 shares during the period. Aigen Investment Management LP's holdings in Kontoor Brands were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE boosted its stake in Kontoor Brands by 24.1% during the 3rd quarter. US Bancorp DE now owns 2,685 shares of the company's stock valued at $220,000 after purchasing an additional 522 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Kontoor Brands by 17.5% during the third quarter. Crossmark Global Holdings Inc. now owns 6,841 shares of the company's stock worth $560,000 after buying an additional 1,020 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Kontoor Brands by 3.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 26,940 shares of the company's stock worth $2,203,000 after buying an additional 830 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in Kontoor Brands during the third quarter worth $32,000. 93.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on KTB shares. Wells Fargo & Company cut their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday. UBS Group dropped their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Barclays reduced their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.50.
Read Our Latest Stock Analysis on Kontoor Brands
Kontoor Brands Stock Performance
KTB stock traded down $1.58 during mid-day trading on Thursday, hitting $59.50. The company had a trading volume of 855,174 shares, compared to its average volume of 698,107. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a market cap of $3.29 billion, a PE ratio of 13.40, 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. The stock's fifty day moving average price is $81.66 and its two-hundred day moving average price is $82.51.
Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company 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 EPS. Kontoor Brands's revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.
Kontoor Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.50%. Kontoor Brands's dividend payout ratio is presently 47.60%.
About Kontoor Brands
(
Free Report)
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.
Featured Stories
Before you consider Kontoor Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kontoor Brands wasn't on the list.
While Kontoor Brands currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
