R Squared Ltd Takes Position in Kontoor Brands, Inc. (NYSE:KTB)

R Squared Ltd acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,197 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Nilsine Partners LLC raised its holdings in shares of Kontoor Brands by 9.8% in the 4th quarter. Nilsine Partners LLC now owns 21,082 shares of the company’s stock valued at $1,801,000 after purchasing an additional 1,886 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after buying an additional 44,287 shares during the period. KBC Group NV raised its stake in Kontoor Brands by 52.2% in the fourth quarter. KBC Group NV now owns 2,024 shares of the company’s stock worth $173,000 after buying an additional 694 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Kontoor Brands during the fourth quarter worth $154,000. Finally, Janney Montgomery Scott LLC boosted its position in Kontoor Brands by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after acquiring an additional 141 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

KTB opened at $95.61 on Friday. The firm’s 50-day moving average price is $88.53 and its 200-day moving average price is $80.88. The company has a market cap of $5.27 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same quarter in the prior year, the business posted $1.22 EPS. Kontoor Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the sale, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on KTB shares. Wells Fargo & Company boosted their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays raised their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Guggenheim boosted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.