Profund Advisors LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 8.1% during the 1st quarter, Holdings Channel reports. The fund owned 5,385 shares of the company's stock after acquiring an additional 402 shares during the quarter. Profund Advisors LLC's holdings in Kontoor Brands were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of KTB. Cullen Capital Management LLC acquired a new position in shares of Kontoor Brands during the 1st quarter valued at $8,238,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Kontoor Brands by 353.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 928,314 shares of the company's stock valued at $47,576,000 after purchasing an additional 723,794 shares during the period. JPMorgan Chase & Co. increased its position in shares of Kontoor Brands by 49.4% during the 4th quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company's stock valued at $41,577,000 after purchasing an additional 268,201 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Kontoor Brands by 2,368.4% in the 1st quarter. Victory Capital Management Inc. now owns 212,847 shares of the company's stock worth $8,456,000 after acquiring an additional 204,224 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Kontoor Brands by 29.4% in the 4th quarter. Bank of America Corp DE now owns 251,751 shares of the company's stock worth $12,902,000 after acquiring an additional 57,181 shares during the last quarter. 99.18% of the stock is currently owned by institutional investors and hedge funds.
Get Kontoor Brands alerts:Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on KTB. Stifel Nicolaus decreased their target price on Kontoor Brands from $45.00 to $38.00 in a report on Wednesday, July 20th. TheStreet upgraded Kontoor Brands from a "c" rating to a "b" rating in a report on Friday, May 13th. William Blair cut Kontoor Brands to a "hold" rating and set a $43.00 target price on the stock. in a report on Monday, July 25th. Williams Capital restated a "downgrade" rating on shares of Kontoor Brands in a report on Monday, July 25th. Finally, Barclays cut Kontoor Brands from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $53.00 to $40.00 in a report on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands has an average rating of "Hold" and an average target price of $40.83.
Kontoor Brands Price Performance
KTB opened at $38.28 on Wednesday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.10 and a beta of 1.14. Kontoor Brands, Inc. has a 1 year low of $30.98 and a 1 year high of $61.24. The company has a current ratio of 2.06, a quick ratio of 0.90 and a debt-to-equity ratio of 4.39. The stock has a fifty day moving average price of $36.87 and a 200 day moving average price of $39.93.Kontoor Brands (NYSE:KTB – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $613.50 million during the quarter, compared to analysts' expectations of $624.46 million. Kontoor Brands had a return on equity of 155.26% and a net margin of 9.52%. The business's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts forecast that Kontoor Brands, Inc. will post 4.45 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, September 9th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.84 dividend on an annualized basis and a yield of 4.81%. Kontoor Brands's payout ratio is 42.69%.
Kontoor Brands Company Profile
(Get Rating)
Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.
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