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

Hussman Strategic Advisors Inc. bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,000 shares of the company's stock, valued at approximately $2,693,000. Hussman Strategic Advisors Inc. owned about 0.08% of Kontoor Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP lifted its position in Kontoor Brands by 97.3% during the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after purchasing an additional 285,897 shares during the last quarter. Man Group plc lifted its position in Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company's stock valued at $39,807,000 after purchasing an additional 253,360 shares during the last quarter. Norges Bank bought a new position in Kontoor Brands during the fourth quarter valued at $17,630,000. Geode Capital Management LLC lifted its position 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 purchasing an additional 199,601 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after purchasing an additional 188,001 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Down 0.5%

KTB stock traded down $0.35 during trading on Monday, hitting $63.68. The company had a trading volume of 60,605 shares, compared to its average volume of 575,992. The firm has a market capitalization of $3.54 billion, a P/E ratio of 15.60, a PEG ratio of 1.54 and a beta of 1.12. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a 50 day simple moving average of $68.28 and a 200-day simple moving average of $70.57. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72.

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. The company had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KTB shares. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Stifel Nicolaus reduced their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Barclays increased 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. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $87.50.

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.