Y Intercept Hong Kong Ltd Sells 6,259 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Key Points

• Y Intercept Hong Kong Ltd has decreased its stake in Kontoor Brands, Inc. by 34.4%, holding 11,933 shares worth approximately $765,000 at the end of the most recent quarter.
• Analysts are generally optimistic about Kontoor Brands, with several firms raising their price targets and assigning a consensus rating of "Moderate Buy" and an average target price of $87.50.
• Kontoor Brands will distribute a quarterly dividend of $0.52 per share on September 19th, representing a dividend yield of 3.33% and a payout ratio of 50.98%.

Y Intercept Hong Kong Ltd lessened its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 34.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,933 shares of the company's stock after selling 6,259 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Kontoor Brands were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its position in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after buying an additional 148 shares in the last quarter. CX Institutional bought a new position in Kontoor Brands during the 1st quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in 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 buying an additional 207 shares in the last quarter. Quarry LP increased its position in 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 buying an additional 450 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Kontoor Brands during the 4th quarter valued at approximately $98,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective 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. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wells Fargo & Company increased their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Barclays increased their target price on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, UBS Group increased their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Kontoor Brands Price Performance

Shares of NYSE KTB traded down $3.36 during mid-day trading on Wednesday, hitting $57.47. 799,896 shares of the company's stock traded hands, compared to its average volume of 604,280. The company's 50-day moving average is $66.58 and its two-hundred day moving average is $69.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65. The company has a market capitalization of $3.19 billion, a P/E ratio of 14.09, a PEG ratio of 1.47 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.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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 firm had revenue of $622.90 million for the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The business's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 annualized dividend and a yield of 3.62%. Kontoor Brands's payout ratio is 50.98%.

About Kontoor Brands

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.