Squarepoint Ops LLC Has $9.93 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

Squarepoint Ops LLC increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 161.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,277 shares of the company's stock after acquiring an additional 71,830 shares during the period. Squarepoint Ops LLC owned about 0.21% of Kontoor Brands worth $9,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HHM Wealth Advisors LLC bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $29,000. Huntington National Bank raised its holdings in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position 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 during the period. Quarry LP boosted its stake in shares of Kontoor Brands by 161.3% in the 4th quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $98,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

NYSE KTB traded down $1.14 on Wednesday, reaching $69.43. The stock had a trading volume of 457,115 shares, compared to its average volume of 552,107. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market cap of $3.86 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The firm has a fifty day moving average of $63.40 and a two-hundred day moving average of $76.51. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. On average, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.00%. Kontoor Brands's payout ratio is 50.98%.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company boosted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. UBS Group raised their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays lifted their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.