Jane Street Group LLC cut its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 23.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,554 shares of the company's stock after selling 13,020 shares during the quarter. Jane Street Group LLC owned 0.08% of Kontoor Brands worth $3,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of KTB. Principal Financial Group Inc. raised its stake in Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after buying an additional 7,445 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after buying an additional 35,932 shares in the last quarter. Level Wealth Management LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at $350,000. Barclays PLC raised its stake in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company's stock valued at $8,303,000 after buying an additional 77,137 shares in the last quarter. Finally, Vest Financial LLC raised its stake in Kontoor Brands by 47.7% in the fourth quarter. Vest Financial LLC now owns 28,252 shares of the company's stock valued at $2,413,000 after buying an additional 9,121 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.
Kontoor Brands Price Performance
Shares of KTB traded down $0.88 on Friday, reaching $72.72. The stock had a trading volume of 920,611 shares, compared to its average volume of 547,845. The firm has a market capitalization of $4.04 billion, a PE ratio of 16.38, 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. The firm has a 50-day moving average of $62.13 and a 200 day moving average of $77.22. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80.
Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm 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. Kontoor Brands's revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.
Kontoor Brands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is currently 50.98%.
Wall Street Analysts Forecast Growth
KTB has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price 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. Barclays lifted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, UBS Group lifted 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.80.
View Our Latest Report on KTB
Kontoor Brands Profile
(
Free Report)
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.
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