Marshall Wace LLP Purchases 285,897 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Marshall Wace LLP raised its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 97.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 579,844 shares of the company's stock after acquiring an additional 285,897 shares during the period. Marshall Wace LLP owned approximately 1.05% of Kontoor Brands worth $49,524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of KTB. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the 4th quarter valued at $29,000. Huntington National Bank grew its holdings in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after acquiring an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after acquiring an additional 503 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Up 2.5 %

KTB stock opened at $54.99 on Friday. The stock has a market cap of $3.04 billion, a P/E ratio of 12.39, a P/E/G ratio of 2.12 and a beta of 0.93. 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 stock's fifty day simple moving average is $66.04 and its two-hundred day simple moving average is $79.43. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80.

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, topping analysts' consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during 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 firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. Analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

A number of brokerages have commented on KTB. UBS Group decreased their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their price target on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus cut their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

About Kontoor Brands

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.

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