GAMMA Investing LLC Has $2.46 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

GAMMA Investing LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 4,248.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,350 shares of the company's stock after buying an additional 37,468 shares during the quarter. GAMMA Investing LLC owned 0.07% of Kontoor Brands worth $2,459,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KTB. Marshall Wace LLP raised its stake in shares of Kontoor Brands by 97.3% in the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after acquiring an additional 285,897 shares in the last quarter. Man Group plc raised its holdings in Kontoor Brands by 119.1% in the 4th quarter. Man Group plc now owns 466,065 shares of the company's stock worth $39,807,000 after acquiring an additional 253,360 shares during the period. Norges Bank acquired a new position in Kontoor Brands during the 4th quarter worth $17,630,000. Geode Capital Management LLC boosted its holdings in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after acquiring an additional 199,601 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Trading Down 3.9%

Shares of Kontoor Brands stock traded down $2.53 during trading on Friday, hitting $62.01. 686,116 shares of the company were exchanged, compared to its average volume of 559,662. 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 firm has a market capitalization of $3.45 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16. The firm's fifty day moving average price is $64.68 and its 200 day moving average price is $74.76. 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 posted its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is 50.98%.

Analyst Ratings Changes

Several brokerages have commented on KTB. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday. Barclays upped their target price on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. 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. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their target price on shares of 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 investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.50.

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.