Centiva Capital LP Purchases Shares of 8,231 Kontoor Brands, Inc. (NYSE:KTB)

Centiva Capital LP purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,231 shares of the company’s stock, valued at approximately $703,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Kontoor Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after acquiring an additional 7,445 shares in 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 worth $36,000 after purchasing an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after buying an additional 35,932 shares during the period. Level Wealth Management LLC bought a new stake in Kontoor Brands in the 4th quarter valued at about $350,000. Finally, Barclays PLC raised its stake in Kontoor Brands by 316.3% during the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after buying an additional 77,137 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on 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 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. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group lifted their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $84.80.

Kontoor Brands Trading Up 2.8 %

Shares of Kontoor Brands stock opened at $69.30 on Friday. The company has a market capitalization of $3.83 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The stock has a fifty day simple moving average of $60.75 and a 200 day simple moving average of $77.43. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced 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. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.00%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.98%.

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.