Achmea Investment Management B.V. Acquires 95,211 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Achmea Investment Management B.V. increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 684.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,124 shares of the company’s stock after purchasing an additional 95,211 shares during the period. Achmea Investment Management B.V. owned approximately 0.20% of Kontoor Brands worth $7,218,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its position in shares of Kontoor Brands by 44.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after buying an additional 7,466 shares during the period. Magnetar Financial LLC acquired a new stake in Kontoor Brands in the first quarter worth $1,508,000. AMG National Trust Bank increased its stake in Kontoor Brands by 18.5% in the fourth quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock valued at $26,335,000 after purchasing an additional 65,990 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Kontoor Brands during the first quarter valued at about $2,013,000. Finally, Nomura Holdings Inc. boosted its position in shares of Kontoor Brands by 38.5% during the 4th quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock worth $4,071,000 after purchasing an additional 18,121 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on KTB shares. Guggenheim raised their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Barclays upped their price target on 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.83.

Kontoor Brands Stock Performance

KTB stock opened at $72.87 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The firm has a market cap of $4.06 billion, a PE ratio of 18.45, a P/E/G ratio of 1.88 and a beta of 1.20. The business has a 50 day moving average of $70.11 and a 200-day moving average of $66.08. Kontoor Brands, Inc. has a 12-month low of $39.90 and a 12-month high of $75.17.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data 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. The firm had revenue of $607.00 million during the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend 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.