Teza Capital Management LLC Acquires 4,216 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Teza Capital Management LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 68.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,379 shares of the company's stock after acquiring an additional 4,216 shares during the quarter. Teza Capital Management LLC's holdings in Kontoor Brands were worth $886,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock worth $49,524,000 after purchasing an additional 285,897 shares during the last quarter. Man Group plc increased 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 buying an additional 253,360 shares in the last quarter. Norges Bank purchased a new position in Kontoor Brands in the 4th quarter worth about $17,630,000. Geode Capital Management LLC lifted its stake in Kontoor Brands by 16.6% during the 4th 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. lifted its stake in Kontoor Brands by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after acquiring an additional 188,001 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus cut 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. Barclays increased their target price on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Stock Performance

NYSE KTB traded down $0.27 on Thursday, reaching $70.95. 468,151 shares of the stock were exchanged, compared to its average volume of 550,449. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The firm has a market capitalization of $3.94 billion, a PE ratio of 15.98, a PEG ratio of 2.12 and a beta of 1.05. The company's 50-day simple moving average is $62.83 and its two-hundred day simple moving average is $77.04.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same period last year, the firm earned $1.16 EPS. The company's revenue was down 1.3% on a year-over-year basis. Analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.93%. Kontoor Brands's dividend 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.