Marshall Wace LLP Buys 285,897 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Marshall Wace LLP raised its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 97.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 579,844 shares of the company's stock after acquiring an additional 285,897 shares during the quarter. Marshall Wace LLP owned approximately 1.05% of Kontoor Brands worth $49,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands in the fourth quarter worth about $29,000. Huntington National Bank grew its holdings in shares of 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 purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC increased 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 worth $36,000 after purchasing an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Up 3.3 %

KTB stock traded up $1.95 during trading on Wednesday, hitting $60.43. The company had a trading volume of 247,556 shares, compared to its average volume of 537,488. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a 50 day simple moving average of $64.53 and a 200-day simple moving average of $78.94. The firm has a market capitalization of $3.34 billion, a P/E ratio of 13.61, a PEG 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 (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced 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. This represents a $2.08 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is 47.60%.

Analysts Set New Price Targets

KTB has been the topic of several recent research reports. Barclays decreased their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target 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. UBS Group cut their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

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.