3,227 Shares in Kontoor Brands, Inc. (NYSE:KTB) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,227 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mendel Money Management boosted its holdings in Kontoor Brands by 2.8% in the fourth quarter. Mendel Money Management now owns 4,934 shares of the company’s stock valued at $421,000 after acquiring an additional 135 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after purchasing an additional 141 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Kontoor Brands by 14.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after buying an additional 145 shares during the period. Huntington National Bank raised its stake in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 owned by institutional investors and hedge funds.

Kontoor Brands Trading Down 0.8%

NYSE:KTB opened at $68.62 on Monday. 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 business’s 50-day simple moving average is $60.87 and its 200-day simple moving average is $77.37. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The stock has a market capitalization of $3.80 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is 50.98%.

Analyst Ratings Changes

A number of research firms have commented on KTB. Barclays lifted their target price on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. UBS Group increased their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their target price on Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.80.

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.