Point72 Asia Singapore Pte. Ltd. Takes $98,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,142 shares of the company’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also modified their holdings of KTB. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands in the fourth quarter valued at about $29,000. Huntington National Bank grew its stake in shares of 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 acquiring an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 503 shares in the last quarter. Quarry LP grew its stake in shares of Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company’s stock valued at $62,000 after acquiring an additional 450 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in Kontoor Brands during the fourth quarter worth about $98,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KTB. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group increased their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Barclays increased their price objective on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus reduced their price objective 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.80.

Kontoor Brands Stock Down 1.2%

KTB stock opened at $72.72 on Friday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The firm has a 50-day moving average price of $62.13 and a 200-day moving average price of $77.23.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analysts’ expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.86%. Kontoor Brands’s dividend payout ratio (DPR) is currently 50.98%.

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.