Universal Beteiligungs und Servicegesellschaft mbH Takes $2.37 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH invested approximately $2.37 million in Kontoor Brands, acquiring 36,881 shares, which represents a 0.07% ownership stake in the company.
• Several large institutional investors increased their holdings in Kontoor Brands during the fourth quarter, with Geode Capital Management LLC raising its position by 16.6% and Ameriprise Financial Inc. increasing by 11.8%.
• Kontoor Brands recently reported quarterly earnings exceeding analyst expectations, with an EPS of $1.20 and a revenue of $622.90 million, despite a year-over-year decrease in revenue of 1.3%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 36,881 shares of the company's stock, valued at approximately $2,365,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Kontoor Brands at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KTB. Marshall Wace LLP grew its stake in shares of Kontoor Brands by 97.3% in the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after buying an additional 285,897 shares in the last quarter. Man Group plc boosted its position in Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company's stock worth $39,807,000 after purchasing an additional 253,360 shares during the period. Norges Bank bought a new stake in Kontoor Brands during the fourth quarter worth approximately $17,630,000. Geode Capital Management LLC boosted its position in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after purchasing an additional 199,601 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Kontoor Brands stock traded down $0.66 during mid-day trading on Friday, hitting $55.00. 1,393,052 shares of the company were exchanged, compared to its average volume of 648,142. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. The business has a fifty day moving average of $65.98 and a 200 day moving average of $69.03. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a market capitalization of $3.06 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.34 and a beta of 1.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

Wall Street Analysts Forecast Growth

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