Man Group plc Buys 253,360 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Man Group plc boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 119.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466,065 shares of the company's stock after buying an additional 253,360 shares during the quarter. Man Group plc owned approximately 0.85% of Kontoor Brands worth $39,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Marshall Wace LLP boosted its stake in shares of Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after buying an additional 285,897 shares during the period. Norges Bank acquired a new position in shares of Kontoor Brands during the fourth quarter worth $17,630,000. Geode Capital Management LLC increased its holdings in shares of Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after buying an additional 199,601 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after buying an additional 188,001 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Kontoor Brands during the fourth quarter worth $12,962,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday. Barclays upped their price target on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, UBS Group upped their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research 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, Kontoor Brands presently has an average rating of "Moderate Buy" and a consensus price target of $85.80.

Kontoor Brands Trading Down 1.2%

NYSE KTB traded down $0.88 on Friday, reaching $72.72. The company had a trading volume of 920,611 shares, compared to its average volume of 548,310. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The business has a 50 day moving average of $62.13 and a two-hundred day moving average of $77.23. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. Kontoor Brands's payout ratio is currently 50.98%.

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.