Kontoor Brands, Inc. (NYSE:KTB) Stock Position Lifted by XTX Topco Ltd

XTX Topco Ltd grew its position 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 buying an additional 6,399 shares during the period. 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 and hedge funds have also made changes to their positions in KTB. American Century Companies Inc. raised its position in shares of Kontoor Brands by 5.5% during the 4th quarter. American Century Companies Inc. now owns 40,774 shares of the company's stock worth $3,483,000 after purchasing an additional 2,122 shares during the period. LPL Financial LLC raised its position in shares of Kontoor Brands by 35.7% during the 4th quarter. LPL Financial LLC now owns 34,529 shares of the company's stock worth $2,949,000 after purchasing an additional 9,076 shares during the period. Norges Bank acquired a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $17,630,000. Arrowstreet Capital Limited Partnership raised its position in shares of Kontoor Brands by 130.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,979 shares of the company's stock worth $2,561,000 after purchasing an additional 16,974 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Kontoor Brands by 4.6% during the 4th quarter. Alliancebernstein L.P. now owns 105,702 shares of the company's stock worth $9,028,000 after purchasing an additional 4,680 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 3.7%

KTB opened at $56.87 on Tuesday. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78. The stock's fifty day moving average is $65.72 and its 200-day moving average is $68.60. The company has a market capitalization of $3.16 billion, a PE ratio of 13.94, a P/E/G ratio of 1.32 and a beta of 1.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The company had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

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

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