Versor Investments LP Has $828,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Versor Investments LP reduced its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 45.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,696 shares of the company’s stock after selling 7,928 shares during the period. Versor Investments LP’s holdings in Kontoor Brands were worth $828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KTB. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands during the 4th quarter worth $29,000. Kennebec Savings Bank acquired a new position in Kontoor Brands during the third quarter worth about $32,000. Farther Finance Advisors LLC boosted its stake in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after buying an additional 182 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of research reports. Barclays reduced their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $67.50 on Friday. The company has a market capitalization of $3.72 billion, a PE ratio of 15.20, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $86.05 and a 200 day simple moving average of $83.04. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 46.85%.

About Kontoor Brands

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.