Quantbot Technologies LP Makes New Investment in Kontoor Brands, Inc. (NYSE:KTB)

Quantbot Technologies LP acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,293 shares of the company's stock, valued at approximately $367,000.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after buying an additional 26,759 shares in the last quarter. Pacer Advisors Inc. raised its stake in Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after buying an additional 44,287 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Kontoor Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock worth $98,409,000 after buying an additional 15,058 shares during the period. Jennison Associates LLC boosted its position in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after acquiring an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after acquiring an additional 35,932 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded up $2.14 on Wednesday, hitting $66.85. 456,439 shares of the company were exchanged, compared to its average volume of 516,824. The firm has a market capitalization of $3.70 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The stock's 50 day moving average price is $74.81 and its 200 day moving average price is $81.51.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued 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. The company had revenue of $699.00 million during the quarter, compared to analysts' expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio 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.