Rhumbline Advisers Has $9.81 Million Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Rhumbline Advisers reduced its position in Kontoor Brands, Inc. (NYSE:KTB) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 148,359 shares of the company’s stock after selling 531 shares during the quarter. Rhumbline Advisers’ holdings in Kontoor Brands were worth $9,814,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KTB. Principal Securities Inc. bought a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $32,000. Signaturefd LLC lifted its stake in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after acquiring an additional 324 shares during the last quarter. Headlands Technologies LLC grew its position in Kontoor Brands by 22.7% in the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after acquiring an additional 293 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Kontoor Brands by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after purchasing an additional 660 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Kontoor Brands during the 1st quarter valued at $165,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 1.2 %

Kontoor Brands stock opened at $71.92 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The firm has a fifty day moving average price of $69.95 and a two-hundred day moving average price of $66.03. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.88 and a beta of 1.20. Kontoor Brands, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $75.17.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. During the same quarter last year, the firm posted $0.77 EPS. The company’s revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Dividend Announcement

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

Analysts Set New Price Targets

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

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.