Magnetar Financial LLC Acquires Shares of 12,490 Kontoor Brands, Inc. (NYSE:KTB)

Magnetar Financial LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 12,490 shares of the company’s stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KTB. HHM Wealth Advisors LLC purchased a new position in Kontoor Brands in the fourth quarter valued at $29,000. Fortitude Family Office LLC grew its position in shares of Kontoor Brands by 407.3% in the fourth 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 period. EverSource Wealth Advisors LLC grew its position in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after purchasing an additional 503 shares during the period. GAMMA Investing LLC grew its position in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Kontoor Brands in the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KTB shares. Wells Fargo & Company dropped their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays dropped their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, 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 research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Price Performance

Shares of KTB stock opened at $63.68 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm’s 50-day moving average is $78.25 and its two-hundred day moving average is $81.88. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a market capitalization of $3.52 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

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

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

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.