Azzad Asset Management Inc. ADV Grows Stake in Kontoor Brands, Inc. (NYSE:KTB)

Azzad Asset Management Inc. ADV lifted its position in Kontoor Brands, Inc. (NYSE:KTB) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,834 shares of the company’s stock after buying an additional 1,078 shares during the period. Azzad Asset Management Inc. ADV owned approximately 0.06% of Kontoor Brands worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Kontoor Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock worth $282,195,000 after buying an additional 20,964 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kontoor Brands by 60.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,602,908 shares of the company’s stock worth $100,054,000 after buying an additional 601,646 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kontoor Brands by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock worth $71,496,000 after buying an additional 35,637 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Kontoor Brands by 0.7% in the 3rd quarter. Northern Trust Corp now owns 954,563 shares of the company’s stock worth $41,915,000 after buying an additional 6,754 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kontoor Brands by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock worth $38,315,000 after buying an additional 22,141 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KTB has been the topic of several analyst reports. Barclays lifted their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. The Goldman Sachs Group lifted their target price on Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Stifel Nicolaus lifted their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Transactions at Kontoor Brands

In other news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Kontoor Brands Price Performance

NYSE:KTB opened at $64.94 on Thursday. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $68.71 and its two-hundred day simple moving average is $62.72. The stock has a market cap of $3.63 billion, a PE ratio of 16.44, a P/E/G ratio of 1.71 and a beta of 1.16. Kontoor Brands, Inc. has a 52 week low of $37.10 and a 52 week high of $74.90.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. As a group, analysts forecast that Kontoor Brands, Inc. will post 4.73 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 10th were issued a $0.50 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

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.