Millennium Management LLC Has $4.14 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Millennium Management LLC increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,477 shares of the company's stock after purchasing an additional 18,972 shares during the quarter. Millennium Management LLC owned approximately 0.09% of Kontoor Brands worth $4,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at $29,000. Huntington National Bank grew its stake in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares in the last quarter. Quarry LP increased its stake in shares of Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after buying an additional 450 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after purchasing an additional 145 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on KTB. Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays increased their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Wells Fargo & Company raised their price objective 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. Finally, UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded down $1.11 during trading hours on Tuesday, hitting $68.46. 649,303 shares of the stock were exchanged, compared to its average volume of 554,022. 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 $3.80 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.12 and a beta of 1.05. The company's 50 day moving average is $63.86 and its 200 day moving average is $75.77. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. During the same quarter in the prior year, the company posted $1.16 EPS. The business's revenue was down 1.3% on a year-over-year basis. On average, research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is presently 50.98%.

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.