Headlands Technologies LLC Purchases New Stake in Kontoor Brands, Inc. (NYSE:KTB)

Headlands Technologies LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,291 shares of the company’s stock, valued at approximately $81,000.

A number of other large investors have also added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC raised its stake in Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock valued at $571,000 after acquiring an additional 172 shares during the period. Kinloch Capital LLC grew its holdings in Kontoor Brands by 0.6% in the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock valued at $1,599,000 after buying an additional 209 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Kontoor Brands by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock valued at $705,000 after buying an additional 250 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Kontoor Brands by 2.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after buying an additional 279 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Kontoor Brands by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock valued at $631,000 after buying an additional 335 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

KTB has been the topic of a number of research reports. Barclays decreased their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group upped their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. UBS Group upped their price objective on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. 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, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average target price of $70.40.

Kontoor Brands Stock Performance

KTB opened at $62.06 on Wednesday. The firm has a market cap of $3.46 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.70 and a beta of 1.13. Kontoor Brands, Inc. has a 52-week low of $37.10 and a 52-week high of $64.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. The business’s fifty day moving average is $58.99 and its 200-day moving average is $56.92.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 49.26%.

Kontoor Brands 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.