Schonfeld Strategic Advisors LLC Invests $1.18 Million in Kontoor Brands, Inc. (NYSE:KTB)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,752 shares of the company’s stock, valued at approximately $1,175,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Kontoor Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares in the last quarter. Fortitude Family Office LLC grew its position in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after purchasing an additional 35,932 shares during the last quarter. Level Wealth Management LLC bought a new position in shares of Kontoor Brands during the 4th quarter valued at $350,000. Finally, Barclays PLC lifted its stake in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KTB. UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus decreased their target price on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Barclays lifted their price target on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.80.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $67.54 on Thursday. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. 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 company has a market cap of $3.74 billion, a P/E ratio of 15.21, a P/E/G ratio of 2.12 and a beta of 1.05. The business’s 50 day moving average is $60.63 and its two-hundred day moving average is $77.51.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm 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 business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.08%. Kontoor Brands’s dividend payout ratio is currently 47.60%.

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.