Kontoor Brands, Inc. (NYSE:KTB) Stake Lifted by WINTON GROUP Ltd

WINTON GROUP Ltd boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 14.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,640 shares of the company’s stock after buying an additional 2,065 shares during the period. WINTON GROUP Ltd’s holdings in Kontoor Brands were worth $1,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KTB. Private Advisor Group LLC bought a new stake in Kontoor Brands in the 4th quarter valued at about $257,000. Charles Schwab Investment Management Inc. boosted its position in shares of Kontoor Brands by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock worth $38,315,000 after buying an additional 22,141 shares during the period. Principal Securities Inc. bought a new position in Kontoor Brands in the 4th quarter worth approximately $32,000. Dimensional Fund Advisors LP grew its holdings in Kontoor Brands by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock worth $71,496,000 after buying an additional 35,637 shares in the last quarter. Finally, Norges Bank acquired a new stake in Kontoor Brands in the 4th quarter valued at approximately $23,695,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KTB shares. Stifel Nicolaus increased their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays increased their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Guggenheim raised their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.83.

Kontoor Brands Price Performance

NYSE:KTB opened at $74.88 on Monday. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The business’s 50-day moving average price is $70.31 and its 200 day moving average price is $66.24. Kontoor Brands, Inc. has a 52-week low of $39.90 and a 52-week high of $75.32. The firm has a market cap of $4.17 billion, a P/E ratio of 18.96, a PEG ratio of 1.87 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $592.97 million. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.67%. Kontoor Brands’s dividend payout ratio is currently 50.63%.

Kontoor Brands 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.