Walleye Capital LLC Lowers Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Walleye Capital LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 86.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,649 shares of the company's stock after selling 90,030 shares during the period. Walleye Capital LLC's holdings in Kontoor Brands were worth $1,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands during the 4th quarter worth approximately $29,000. Huntington National Bank boosted 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 worth $33,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC grew its holdings in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after acquiring an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after purchasing an additional 182 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Performance

NYSE KTB traded down $2.02 during trading hours on Friday, reaching $60.44. 163,629 shares of the company were exchanged, compared to its average volume of 537,696. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business's 50 day simple moving average is $63.64 and its 200-day simple moving average is $78.70. The stock has a market capitalization of $3.34 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm earned $1.28 EPS. Kontoor Brands's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analyst Weigh In

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

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.