Universal Beteiligungs und Servicegesellschaft mbH Invests $2.37 Million 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 bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional purchased a new position in Kontoor Brands in the first quarter worth $32,000. Huntington National Bank lifted its stake in Kontoor Brands by 62.4% during the fourth 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. Versant Capital Management Inc increased its position in shares of Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares during the last quarter. Quarry LP increased its position in shares of Kontoor Brands by 161.3% during 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, Blue Trust Inc. increased its position in shares of Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after purchasing an additional 274 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Trading Down 1.2%

KTB stock traded down $0.66 during trading on Friday, hitting $55.00. 1,393,051 shares of the company traded hands, compared to its average volume of 721,124. The firm has a market capitalization of $3.06 billion, a PE ratio of 13.48, a P/E/G ratio of 1.38 and a beta of 1.12. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a 50-day moving average of $66.27 and a 200-day moving average of $69.23. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78.

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 for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The business had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. During the same quarter last year, the business posted $1.16 EPS. The business's revenue was down 1.3% on a year-over-year basis. Analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on KTB shares. Barclays increased their price objective on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus reduced their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company increased 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 increased their price objective 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, The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $87.50.

Kontoor Brands 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.