Hsbc Holdings PLC Boosts Stake in Kontoor Brands, Inc. (NYSE:KTB)

Hsbc Holdings PLC raised its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,340 shares of the company’s stock after buying an additional 203 shares during the period. Hsbc Holdings PLC’s holdings in Kontoor Brands were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KTB. Advisory Services Network LLC purchased a new position in Kontoor Brands during the 4th quarter valued at $205,000. TFO Wealth Partners LLC boosted its stake in shares of Kontoor Brands by 148,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,962 shares of the company’s stock valued at $185,000 after purchasing an additional 2,960 shares during the period. Southeast Asset Advisors Inc. bought a new position in shares of Kontoor Brands in the fourth quarter worth about $223,000. Nomura Holdings Inc. increased its stake in Kontoor Brands by 38.5% in the 4th quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock worth $4,071,000 after buying an additional 18,121 shares during the period. Finally, Optimist Retirement Group LLC bought a new stake in Kontoor Brands during the 4th quarter valued at about $368,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of NYSE:KTB opened at $81.78 on Tuesday. The firm has a 50 day moving average of $72.75 and a 200 day moving average of $67.54. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Kontoor Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $83.50.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. During the same period in the previous year, the company posted $0.77 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is currently 50.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays raised their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Guggenheim lifted their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.83.

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.