Squarepoint Ops LLC Increases Position in Kontoor Brands, Inc. (NYSE:KTB)

Squarepoint Ops LLC boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 161.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,277 shares of the company's stock after buying an additional 71,830 shares during the quarter. Squarepoint Ops LLC owned 0.21% of Kontoor Brands worth $9,931,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KTB. Pacer Advisors Inc. lifted its holdings in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after acquiring an additional 44,287 shares during the last quarter. Geode Capital Management LLC raised its position in Kontoor Brands by 16.6% in 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 period. Ameriprise Financial Inc. lifted its stake in Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after purchasing an additional 142,956 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kontoor Brands by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after buying an additional 5,207 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Kontoor Brands by 9.8% during the fourth quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock worth $95,973,000 after buying an additional 100,397 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 1.3%

NYSE KTB traded up $0.92 on Tuesday, hitting $70.54. 687,874 shares of the stock were exchanged, compared to its average volume of 552,487. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a 50-day moving average price of $63.25 and a 200-day moving average price of $76.55. The company has a market cap of $3.92 billion, a PE ratio of 15.89, a PEG ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results 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 net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KTB shares. Barclays increased their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus cut their price target 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. 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 note on Wednesday, May 14th. Finally, UBS Group lifted their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.