Jump Financial LLC Takes $742,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Jump Financial LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,685 shares of the company's stock, valued at approximately $742,000.

Other hedge funds have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new position in Kontoor Brands in the fourth quarter valued at approximately $29,000. Huntington National Bank increased its stake in Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. Fortitude Family Office LLC boosted its position in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after buying an additional 503 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Stock Down 0.9 %

NYSE:KTB traded down $0.53 on Monday, hitting $60.94. The stock had a trading volume of 552,478 shares, compared to its average volume of 538,186. The business's fifty day moving average is $62.59 and its 200 day moving average is $78.41. The company has a market cap of $3.37 billion, a PE ratio of 13.73, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, equities research analysts expect 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. Stockholders of record on Tuesday, June 10th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.41%. Kontoor Brands's dividend payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays reduced their price objective on Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday. Stifel Nicolaus lowered their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

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.