Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 14.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,640 shares of the company’s stock after buying an additional 2,065 shares during the period. WINTON GROUP Ltd’s holdings in Kontoor Brands were worth $1,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vest Financial LLC increased its stake in Kontoor Brands by 17.4% during the second quarter. Vest Financial LLC now owns 16,411 shares of the company’s stock worth $1,086,000 after acquiring an additional 2,434 shares during the last quarter. Achmea Investment Management B.V. increased its position in Kontoor Brands by 684.3% during the 2nd quarter. Achmea Investment Management B.V. now owns 109,124 shares of the company’s stock worth $7,218,000 after purchasing an additional 95,211 shares in the last quarter. American Century Companies Inc. increased its position in Kontoor Brands by 48.7% during the 2nd quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock worth $2,387,000 after purchasing an additional 11,810 shares in the last quarter. Choreo LLC purchased a new position in Kontoor Brands in the second quarter valued at approximately $803,000. Finally, Quest Partners LLC acquired a new position in Kontoor Brands during the second quarter valued at approximately $27,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

KTB opened at $74.88 on Monday. The company has a market capitalization of $4.17 billion, a P/E ratio of 18.96, a PEG ratio of 1.87 and a beta of 1.20. The company has a 50-day moving average of $70.31 and a 200-day moving average of $66.24. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $75.32.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating 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 earned $0.77 earnings per share. Kontoor Brands’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts expect that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Analyst Upgrades and Downgrades

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

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.