Jump Financial LLC Makes New $742,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Jump Financial LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,685 shares of the company's stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Kontoor Brands during the fourth quarter worth $17,630,000. Geode Capital Management LLC lifted its stake in Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after purchasing an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Kontoor Brands by 67.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company's stock worth $24,626,000 after buying an additional 116,000 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Kontoor Brands during the fourth quarter worth approximately $7,512,000. 93.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on KTB. UBS Group reduced 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. 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. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Stifel Nicolaus reduced their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Kontoor Brands Trading Up 1.9 %

Shares of Kontoor Brands stock opened at $58.45 on Wednesday. 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 50-day moving average of $64.53 and a 200-day moving average of $78.94. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The stock has a market cap of $3.23 billion, a PE ratio of 13.16, a PEG ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.56%. Kontoor Brands's payout ratio is 47.60%.

Kontoor Brands Company 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.

Want to see what other hedge funds are holding KTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kontoor Brands, Inc. (NYSE:KTB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.