Two Sigma Advisers LP Acquires New Position in Kontoor Brands, Inc. (NYSE:KTB)

Two Sigma Advisers LP acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,700 shares of the company's stock, valued at approximately $401,000.

A number of other large investors have also modified their holdings of KTB. Huntington National Bank grew its stake in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after purchasing an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after buying an additional 503 shares during the period. Quarry LP grew its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after buying an additional 450 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $98,000. Finally, Quadrant Capital Group LLC raised its holdings in Kontoor Brands by 14.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock valued at $101,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Analysts Set New Price Targets

KTB has been the subject of a number of recent analyst reports. Barclays lifted their price target on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. 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 note on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Price Performance

Kontoor Brands stock traded up $1.17 during mid-day trading on Friday, reaching $69.28. The company had a trading volume of 408,150 shares, compared to its average volume of 554,341. The company has a market capitalization of $3.85 billion, a P/E ratio of 15.60, a P/E/G 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. The stock's 50-day simple moving average is $64.02 and its 200-day simple moving average is $75.56. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. During the same period last year, the company posted $1.16 EPS. The company's revenue was down 1.3% on a year-over-year basis. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is 50.98%.

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.