Xponance Inc. Acquires 388 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Xponance Inc. boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,025 shares of the company’s stock after acquiring an additional 388 shares during the quarter. Xponance Inc.’s holdings in Kontoor Brands were worth $344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Kontoor Brands by 67.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock valued at $24,626,000 after purchasing an additional 116,000 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at $8,479,000. Barclays PLC increased its holdings in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Kontoor Brands in the fourth quarter valued at about $6,314,000. Finally, Pacer Advisors Inc. lifted its stake in Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after buying an additional 44,287 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on KTB. Wells Fargo & Company lowered their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays lowered their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group decreased their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Stock Up 1.6 %

Kontoor Brands stock opened at $65.42 on Friday. The company has a 50 day moving average of $76.64 and a 200-day moving average of $81.66. 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 twelve month low of $52.95 and a twelve month high of $96.80. The stock has a market capitalization of $3.62 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

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.