Versor Investments LP Decreases Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Versor Investments LP cut its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 45.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,696 shares of the company's stock after selling 7,928 shares during the period. Versor Investments LP's holdings in Kontoor Brands were worth $828,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands in the fourth quarter valued at $29,000. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands during the 3rd quarter worth about $32,000. Farther Finance Advisors LLC raised its holdings in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after buying an additional 274 shares during the period. Fortitude Family Office LLC lifted its position in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KTB. UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday. Barclays cut their target price on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.17.

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Kontoor Brands Stock Down 3.0 %

Shares of KTB stock traded down $1.93 during trading on Monday, reaching $63.11. The company's stock had a trading volume of 1,241,502 shares, compared to its average volume of 677,691. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.12 and a beta of 1.19. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-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 $85.61 and its 200 day moving average price is $83.19.

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 for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, March 10th. Kontoor Brands's dividend payout ratio is presently 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.