Magnetar Financial LLC Makes New $1.07 Million Investment in Kontoor Brands, Inc. (NYSE:KTB)

Magnetar Financial LLC purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,490 shares of the company's stock, valued at approximately $1,067,000.

A number of other hedge funds have also made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at $332,000. Janus Henderson Group PLC boosted its holdings in Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock valued at $3,883,000 after acquiring an additional 11,337 shares during the period. Principal Financial Group Inc. grew its position in shares of Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after purchasing an additional 7,445 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after purchasing an additional 334 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company's stock worth $1,422,000 after purchasing an additional 1,087 shares during the period. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays decreased their target price on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group cut their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.50.

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Kontoor Brands Stock Performance

Shares of KTB traded up $0.38 on Wednesday, reaching $64.45. 435,030 shares of the stock traded hands, compared to its average volume of 494,598. The stock's 50-day moving average price is $77.45 and its 200-day moving average price is $81.89. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 14.51, a P/E/G 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.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.23%. Kontoor Brands's dividend payout ratio (DPR) is presently 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.