Voya Investment Management LLC Has $2.22 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

Voya Investment Management LLC lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,935 shares of the company's stock after purchasing an additional 8,020 shares during the period. Voya Investment Management LLC's holdings in Kontoor Brands were worth $2,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands during the fourth quarter valued at about $29,000. Huntington National Bank grew 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. Fortitude Family Office LLC boosted its holdings in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares during the period. EverSource Wealth Advisors LLC grew its stake in Kontoor Brands by 229.7% during the 4th 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 lifted its position in Kontoor Brands by 26.0% in the 4th 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. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded up $1.42 during trading hours on Tuesday, hitting $64.87. 1,087,903 shares of the stock were exchanged, compared to its average volume of 531,920. 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, Inc. has a one year low of $50.00 and a one year high of $96.80. The company's 50 day moving average is $60.63 and its 200 day moving average is $77.67. The firm has a market capitalization of $3.59 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.12 and a beta of 1.05.

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

Kontoor Brands Announces Dividend

The company 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. This represents a $2.08 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is 47.60%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their target price on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus decreased 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. Finally, UBS Group dropped their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.40.

About Kontoor Brands

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.