Natixis Advisors LLC Boosts Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Natixis Advisors LLC boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 15.8% during the 2nd quarter, Holdings Channel reports. The firm owned 16,296 shares of the company’s stock after buying an additional 2,223 shares during the period. Natixis Advisors LLC’s holdings in Kontoor Brands were worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KTB. Norges Bank bought a new stake in Kontoor Brands during the 4th quarter valued at approximately $23,695,000. Edgestream Partners L.P. raised its stake in Kontoor Brands by 816.7% during the 1st quarter. Edgestream Partners L.P. now owns 75,276 shares of the company’s stock valued at $4,535,000 after purchasing an additional 67,064 shares during the period. AMG National Trust Bank increased its stake in Kontoor Brands by 18.5% in the 4th quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock worth $26,335,000 after acquiring an additional 65,990 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Kontoor Brands in the 1st quarter worth approximately $3,163,000. Finally, Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 35,637 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Guggenheim lifted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays lifted their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.83.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock opened at $71.92 on Thursday. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The stock has a 50 day moving average price of $69.95 and a 200-day moving average price of $66.03. Kontoor Brands, Inc. has a one year low of $39.90 and a one year high of $75.17.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. The firm had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Equities analysts expect that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

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.