Squarepoint Ops LLC Raises Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Squarepoint Ops LLC boosted its position in 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 SEC. The fund owned 116,277 shares of the company's stock after buying an additional 71,830 shares during the quarter. Squarepoint Ops LLC owned approximately 0.21% of Kontoor Brands worth $9,931,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

KTB has been the subject of several recent research reports. Barclays boosted their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus cut their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. UBS Group upped their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Trading Down 1.2%

Shares of NYSE KTB traded down $0.87 during trading on Thursday, reaching $68.66. The company had a trading volume of 121,016 shares, compared to its average volume of 550,732. The company's fifty day moving average price is $63.52 and its 200-day moving average price is $76.46. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The stock has a market cap of $3.81 billion, a P/E ratio of 15.45, 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 announced its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the prior year, the company earned $1.16 EPS. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.03%. Kontoor Brands's payout ratio is 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.