Taika Capital LP bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,257 shares of the company's stock, valued at approximately $705,000.
Several other institutional investors and hedge funds also recently bought and sold shares of KTB. US Bancorp DE lifted its position in Kontoor Brands by 24.1% during the third quarter. US Bancorp DE now owns 2,685 shares of the company's stock valued at $220,000 after purchasing an additional 522 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after acquiring an additional 274 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Kontoor Brands by 17.5% during the third quarter. Crossmark Global Holdings Inc. now owns 6,841 shares of the company's stock valued at $560,000 after acquiring an additional 1,020 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Kontoor Brands by 3.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 26,940 shares of the company's stock valued at $2,203,000 after acquiring an additional 830 shares during the period. Finally, Kennebec Savings Bank bought a new stake in Kontoor Brands during the third quarter valued at about $32,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Kontoor Brands Price Performance
Shares of KTB stock traded down $1.58 during trading hours on Thursday, hitting $59.50. The stock had a trading volume of 855,174 shares, compared to its average volume of 702,581. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. 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 stock's 50-day moving average price is $81.66 and its two-hundred day moving average price is $82.51. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.12 and a beta of 1.23.
Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million for the quarter, compared to analysts' expectations of $698.07 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. Equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.
Kontoor Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.50%. Kontoor Brands's payout ratio is currently 47.60%.
Wall Street Analyst Weigh In
A number of research firms have commented on KTB. Barclays decreased their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. UBS Group decreased their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price target on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.50.
View Our Latest Analysis on KTB
About Kontoor Brands
(
Free Report)
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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