AlphaQuest LLC Sells 3,715 Shares of Kontoor Brands, Inc. (NYSE:KTB)

AlphaQuest LLC reduced its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 36.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,530 shares of the company’s stock after selling 3,715 shares during the quarter. AlphaQuest LLC’s holdings in Kontoor Brands were worth $558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KTB. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands during the 4th quarter valued at approximately $29,000. Farther Finance Advisors LLC boosted its position in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after acquiring an additional 274 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after acquiring an additional 182 shares during the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Kontoor Brands during the 4th quarter valued at approximately $98,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Up 1.6 %

Shares of KTB opened at $61.01 on Thursday. 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 business has a fifty day moving average of $81.66 and a 200 day moving average of $82.51. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The company has a market cap of $3.38 billion, a PE ratio of 13.74, a P/E/G ratio of 2.12 and a beta of 1.23.

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

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KTB. UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays lowered their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $93.17.

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.