Y Intercept Hong Kong Ltd Raises Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Y Intercept Hong Kong Ltd increased its position in Kontoor Brands, Inc. (NYSE:KTB) by 43.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 18,192 shares of the company’s stock after purchasing an additional 5,540 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Kontoor Brands were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KTB. Olympiad Research LP purchased a new position in Kontoor Brands during the 4th quarter valued at $498,000. Convergence Investment Partners LLC purchased a new position in Kontoor Brands during the 4th quarter valued at $455,000. Principal Financial Group Inc. increased its position in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after purchasing an additional 7,445 shares during the period. Monument Capital Management increased its position in Kontoor Brands by 1,033.5% during the 4th quarter. Monument Capital Management now owns 37,701 shares of the company’s stock valued at $3,220,000 after purchasing an additional 34,375 shares during the period. Finally, James Investment Research Inc. increased its position in Kontoor Brands by 12.7% during the 4th quarter. James Investment Research Inc. now owns 27,781 shares of the company’s stock valued at $2,373,000 after purchasing an additional 3,135 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KTB shares. Barclays boosted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group reduced their price objective on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $73.51 on Wednesday. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The stock has a market cap of $4.05 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company’s fifty day moving average price is $87.05 and its 200-day moving average price is $83.23.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. On average, equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is 46.85%.

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.