Tudor Investment Corp ET AL Buys New Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Tudor Investment Corp ET AL purchased a new position in Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 39,823 shares of the company’s stock, valued at approximately $3,401,000.

A number of other institutional investors also recently bought and sold shares of KTB. Marshall Wace LLP increased its stake in shares of Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock worth $49,524,000 after acquiring an additional 285,897 shares during the period. Norges Bank purchased a new position in shares of Kontoor Brands during the 4th quarter valued at about $17,630,000. Geode Capital Management LLC lifted its holdings in shares of Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after buying an additional 199,601 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after buying an additional 188,001 shares during the period. Finally, First Trust Advisors LP grew its holdings in Kontoor Brands by 15.5% during the fourth quarter. First Trust Advisors LP now owns 1,043,684 shares of the company’s stock worth $89,141,000 after acquiring an additional 140,068 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Up 5.2 %

Shares of NYSE:KTB opened at $63.42 on Friday. The business’s 50 day moving average price is $60.73 and its 200-day moving average price is $77.89. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.28%. Kontoor Brands’s payout ratio is currently 47.60%.

Analyst Ratings Changes

KTB has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group lowered their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus dropped their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Barclays decreased their price objective on shares of Kontoor Brands from $93.00 to $69.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.17.

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.