Hussman Strategic Advisors Inc. Buys Shares of 42,000 Kontoor Brands, Inc. (NYSE:KTB)

Hussman Strategic Advisors Inc. acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 42,000 shares of the company's stock, valued at approximately $2,693,000. Hussman Strategic Advisors Inc. owned approximately 0.08% of Kontoor Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. Marshall Wace LLP raised its position in 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 buying an additional 285,897 shares during the last quarter. Man Group plc raised its position in Kontoor Brands by 119.1% in the 4th quarter. Man Group plc now owns 466,065 shares of the company's stock valued at $39,807,000 after buying an additional 253,360 shares during the last quarter. Norges Bank acquired a new stake in Kontoor Brands in the 4th quarter valued at approximately $17,630,000. Geode Capital Management LLC raised its position in Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after buying an additional 199,601 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after buying an additional 188,001 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Ratings Changes

KTB has been the topic of several analyst reports. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. Stifel Nicolaus dropped their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays upped their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Wells Fargo & Company upped their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, UBS Group upped their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded down $0.57 during trading hours on Friday, reaching $64.34. 48,020 shares of the stock were exchanged, compared to its average volume of 712,178. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.55 and a beta of 1.12. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The stock's fifty day simple moving average is $68.37 and its 200 day simple moving average is $70.92.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, June 10th. Kontoor Brands's payout ratio is presently 50.98%.

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.

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