Sei Investments Co. Purchases 10,813 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Sei Investments Co. increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 27.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,762 shares of the company's stock after buying an additional 10,813 shares during the period. Sei Investments Co. owned 0.09% of Kontoor Brands worth $4,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also 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 during the period. Pacer Advisors Inc. boosted its stake in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after acquiring an additional 44,287 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kontoor Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock worth $98,409,000 after purchasing an additional 15,058 shares during the period. Jennison Associates LLC increased its stake in Kontoor Brands by 4.6% in the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after purchasing an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after purchasing an additional 35,932 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several analysts have recently commented on KTB shares. 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. Wells Fargo & Company reduced 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. Finally, Barclays decreased their price objective on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.50.

Kontoor Brands Stock Down 3.3 %

KTB traded down $1.90 during midday trading on Monday, reaching $56.00. 1,376,387 shares of the company were exchanged, compared to its average volume of 525,943. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. The company's fifty day moving average price is $72.78 and its 200 day moving average price is $81.12. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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 company had revenue of $699.00 million for 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%. Kontoor Brands's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. As a group, 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. Stockholders of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.71%. Kontoor Brands's dividend payout ratio is currently 47.60%.

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.