Cubist Systematic Strategies LLC Buys Shares of 55,215 Kontoor Brands, Inc. (NYSE:KTB)

Cubist Systematic Strategies LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 55,215 shares of the company's stock, valued at approximately $4,716,000. Cubist Systematic Strategies LLC owned about 0.10% of Kontoor Brands at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KTB. Mendel Money Management raised its position in shares of Kontoor Brands by 2.8% in the 4th quarter. Mendel Money Management now owns 4,934 shares of the company's stock valued at $421,000 after purchasing an additional 135 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock worth $408,000 after buying an additional 141 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after buying an additional 145 shares during the period. Huntington National Bank grew 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 valued at $33,000 after buying an additional 148 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after acquiring an additional 182 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Kontoor Brands from $69.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wells Fargo & Company dropped their target price on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. UBS Group raised their price target 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. Finally, Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.80.

Kontoor Brands Trading Up 5.8%

Kontoor Brands stock traded up $4.00 during trading on Monday, reaching $72.54. 1,175,029 shares of the company were exchanged, compared to its average volume of 541,331. The stock's 50 day simple moving average is $61.09 and its two-hundred day simple moving average is $77.34. The company has a market capitalization of $4.01 billion, a P/E ratio of 16.34, a PEG ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted 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 business had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the previous year, the firm earned $1.16 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.87%. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

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.