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

Magnetar Financial LLC bought a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,490 shares of the company’s stock, valued at approximately $1,067,000.

Several other institutional investors also recently bought and sold shares of KTB. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its stake in 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 acquiring an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $62,000 after buying an additional 503 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Kontoor Brands by 26.0% in 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. Finally, Tompkins Financial Corp purchased a new position in shares of Kontoor Brands in the fourth quarter worth $98,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 1.2 %

Shares of Kontoor Brands 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 has a fifty day moving average price of $78.25 and a 200 day moving average price of $81.88. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The stock has a market cap 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter last year, the company posted $1.28 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KTB shares. UBS Group decreased their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays decreased their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and an average target price of $91.50.

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.