Man Group plc Boosts Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Man Group plc lifted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 119.1% in the fourth quarter, HoldingsChannel reports. The firm owned 466,065 shares of the company’s stock after acquiring an additional 253,360 shares during the quarter. Man Group plc’s holdings in Kontoor Brands were worth $39,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $29,000. Huntington National Bank increased its holdings in Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 buying an additional 503 shares in the last quarter. Quarry LP lifted its holdings in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after buying an additional 450 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Kontoor Brands during the 4th quarter worth about $98,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $72.88 on Thursday. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The company has a 50-day moving average price of $61.59 and a 200 day moving average price of $77.28. The company has a market cap of $4.05 billion, a P/E ratio of 16.41, a PEG ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. Research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands’s payout ratio is currently 50.98%.

Analyst Upgrades and Downgrades

KTB has been the subject of several recent analyst reports. Barclays boosted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.80.

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.