Jefferies Financial Group Inc. Raises Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Jefferies Financial Group Inc. boosted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,679 shares of the company’s stock after acquiring an additional 1,679 shares during the period. Jefferies Financial Group Inc.’s holdings in Kontoor Brands were worth $7,232,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Gotham Asset Management LLC grew its stake in Kontoor Brands by 158.6% during the fourth quarter. Gotham Asset Management LLC now owns 30,285 shares of the company’s stock valued at $2,587,000 after acquiring an additional 18,575 shares in the last quarter. Focus Partners Wealth purchased a new position in Kontoor Brands in the 4th quarter worth approximately $278,000. Ensign Peak Advisors Inc grew its stake in Kontoor Brands by 33.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 30,735 shares of the company’s stock worth $2,625,000 after buying an additional 7,640 shares in the last quarter. Deutsche Bank AG grew its stake in Kontoor Brands by 45.8% in the 4th quarter. Deutsche Bank AG now owns 51,419 shares of the company’s stock worth $4,392,000 after buying an additional 16,148 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Kontoor Brands in the 4th quarter worth approximately $4,716,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Down 0.8%

Shares of KTB opened at $68.62 on Monday. The stock has a market capitalization of $3.80 billion, a P/E ratio of 15.45, a PEG ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $60.87 and a two-hundred day simple moving average of $77.37. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results 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. The business had revenue of $622.90 million during the quarter, compared to analysts’ expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. On average, research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.03%. Kontoor Brands’s dividend payout ratio is 50.98%.

Analyst Ratings Changes

KTB has been the subject of a number of research reports. UBS Group boosted their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price target on shares of Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Barclays boosted their price objective on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, 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 report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

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.