AQR Capital Management LLC Buys 659 Shares of Kontoor Brands, Inc. (NYSE:KTB)

AQR Capital Management LLC lifted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 10.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,803 shares of the company’s stock after acquiring an additional 659 shares during the period. AQR Capital Management LLC’s holdings in Kontoor Brands were worth $450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KTB. Quest Partners LLC bought a new position in Kontoor Brands during the second quarter valued at approximately $27,000. 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 worth $64,000 after purchasing an additional 324 shares during the last quarter. Blue Trust Inc. lifted its stake in Kontoor Brands by 72.4% in the second 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. Headlands Technologies LLC boosted its position in Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after buying an additional 293 shares during the period. Finally, Mather Group LLC. bought a new position in shares of Kontoor Brands during the first quarter valued at about $165,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KTB shares. Guggenheim increased their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Barclays raised their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.33.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock opened at $81.82 on Wednesday. The business has a 50 day moving average of $75.48 and a 200 day moving average of $69.37. Kontoor Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $83.50. The company has a market cap of $4.57 billion, a PE ratio of 20.71, a P/E/G ratio of 2.08 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04.

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

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.44%. Kontoor Brands’s payout ratio 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.