XTX Topco Ltd Acquires 6,399 Shares of Kontoor Brands, Inc. (NYSE:KTB)

XTX Topco Ltd grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 122.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,617 shares of the company's stock after acquiring an additional 6,399 shares during the quarter. XTX Topco Ltd's holdings in Kontoor Brands were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Homestead Advisers Corp increased its holdings in Kontoor Brands by 15.8% during the first quarter. Homestead Advisers Corp now owns 26,400 shares of the company's stock valued at $1,693,000 after buying an additional 3,600 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Kontoor Brands during the first quarter valued at approximately $2,365,000. Optimist Retirement Group LLC increased its holdings in Kontoor Brands by 29.3% during the first quarter. Optimist Retirement Group LLC now owns 3,572 shares of the company's stock valued at $229,000 after buying an additional 809 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Kontoor Brands by 129.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 36,580 shares of the company's stock valued at $2,347,000 after buying an additional 20,625 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Kontoor Brands during the first quarter valued at approximately $2,693,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KTB. UBS Group upped their target price on shares of Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a report on Friday. Barclays upped their target price on shares of Kontoor Brands from $86.00 to $91.00 and gave the company an "overweight" rating in a report on Friday. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus lifted their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.67.

Kontoor Brands Price Performance

NYSE:KTB traded up $2.78 during trading hours on Friday, hitting $66.77. 581,844 shares of the stock traded hands, compared to its average volume of 730,987. 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, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The stock has a 50 day moving average price of $65.10 and a 200 day moving average price of $68.28.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.35. The business had revenue of $658.26 million for the quarter, compared to the consensus estimate of $632.97 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Kontoor Brands's dividend payout ratio (DPR) 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.