Gotham Asset Management LLC Grows Stake in Kontoor Brands, Inc. (NYSE:KTB)

Gotham Asset Management LLC boosted its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 158.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,285 shares of the company's stock after acquiring an additional 18,575 shares during the period. Gotham Asset Management LLC owned 0.05% of Kontoor Brands worth $2,587,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $29,000. Huntington National Bank raised its position in shares of Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after acquiring an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after purchasing an additional 503 shares in the last quarter. Quarry LP lifted its position in Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after buying an additional 450 shares during the period. Finally, Tompkins Financial Corp bought a new stake in shares of Kontoor Brands during the 4th quarter valued at $98,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Up 0.9%

NYSE:KTB traded up $0.67 on Monday, reaching $73.40. 760,103 shares of the stock traded hands, compared to its average volume of 549,157. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company's fifty day simple moving average is $62.13 and its 200 day simple moving average is $77.17.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

KTB has been the subject of several research reports. UBS Group lifted their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays raised their target price on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and an average target price of $85.80.

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.