Xponance Inc. Boosts Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Xponance Inc. lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,230 shares of the company’s stock after acquiring an additional 205 shares during the quarter. Xponance Inc.’s holdings in Kontoor Brands were worth $271,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. CX Institutional acquired a new stake in Kontoor Brands in the 1st quarter valued at about $32,000. Huntington National Bank raised its holdings in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. Versant Capital Management Inc raised its holdings in Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 207 shares during the last quarter. Quarry LP raised its holdings in Kontoor Brands by 161.3% in the 4th quarter. Quarry LP now owns 729 shares of the company’s stock valued at $62,000 after acquiring an additional 450 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Kontoor Brands by 23.4% in the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company’s stock valued at $93,000 after buying an additional 274 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KTB shares. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. 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 report on Wednesday, May 7th. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the company a “buy” rating in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Finally, Barclays increased their price objective on Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Kontoor Brands Trading Down 1.2%

Kontoor Brands stock opened at $64.15 on Friday. The firm’s 50-day moving average is $68.28 and its 200-day moving average is $70.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a market cap of $3.56 billion, a P/E ratio of 15.72, a PEG ratio of 1.47 and a beta of 1.12.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The firm had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same period last year, the firm posted $1.16 EPS. Kontoor Brands’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 50.98%.

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.