Aristeia Capital L.L.C. Purchases New Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Aristeia Capital L.L.C. bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,658 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds also recently bought and sold shares of the business. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands during the 4th quarter worth $29,000. Huntington National Bank boosted its holdings in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after acquiring an additional 503 shares during the period. Finally, Quarry LP increased its holdings in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Up 5.2 %

Kontoor Brands stock opened at $63.42 on Friday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The stock’s fifty day moving average is $60.73 and its two-hundred day moving average is $77.85. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

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

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.28%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Analyst Ratings Changes

Several research firms have recently issued reports on KTB. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays decreased their price target on shares of Kontoor Brands from $93.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Stifel Nicolaus dropped their target price on 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 dropped their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.40.

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.