Kontoor Brands, Inc. (NYSE:KTB) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 159.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,385 shares of the company’s stock after acquiring an additional 205,885 shares during the period. Marshall Wace LLP owned about 0.60% of Kontoor Brands worth $22,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock worth $135,187,000 after purchasing an additional 201,399 shares during the period. Victory Capital Management Inc. grew its stake in Kontoor Brands by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company’s stock worth $84,046,000 after buying an additional 12,019 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Kontoor Brands by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock worth $82,707,000 after buying an additional 60,926 shares during the period. Bank of New York Mellon Corp lifted its stake in Kontoor Brands by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock valued at $47,137,000 after buying an additional 7,526 shares during the last quarter. Finally, Norges Bank bought a new stake in Kontoor Brands in the fourth quarter valued at $23,695,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KTB. Guggenheim upped their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays upped their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $78.83.

Kontoor Brands Stock Up 3.0 %

Kontoor Brands stock opened at $81.30 on Friday. Kontoor Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $81.75. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.02 and a beta of 1.20. The company’s 50-day moving average price is $72.22 and its two-hundred day moving average price is $67.19. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04.

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

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is presently 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.