Centiva Capital LP Takes $703,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Centiva Capital LP acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,231 shares of the company's stock, valued at approximately $703,000.

A number of other hedge funds have also recently bought and sold shares of the company. Brevan Howard Capital Management LP acquired a new stake in shares of Kontoor Brands during the fourth quarter worth $276,000. Caxton Associates LP acquired a new stake in Kontoor Brands in the 4th quarter worth about $311,000. Balyasny Asset Management L.P. acquired a new stake in Kontoor Brands in the 4th quarter worth about $12,962,000. Bayesian Capital Management LP purchased a new stake in Kontoor Brands in the 4th quarter valued at about $318,000. Finally, Bank of America Corp DE increased its stake in shares of Kontoor Brands by 0.6% during the 4th quarter. Bank of America Corp DE now owns 431,390 shares of the company's stock valued at $36,845,000 after acquiring an additional 2,505 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Stock Up 5.8%

NYSE:KTB traded up $4.00 during mid-day trading on Monday, hitting $72.54. The company had a trading volume of 1,175,029 shares, compared to its average volume of 541,331. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The business has a fifty day simple moving average of $60.87 and a 200-day simple moving average of $77.37. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.12 and a beta of 1.05.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same period in the previous year, the company posted $1.16 EPS. Kontoor Brands's revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 yield of 2.87%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KTB. UBS Group raised their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Barclays increased their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $84.80.

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.