Gotham Asset Management LLC Purchases 18,575 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Gotham Asset Management LLC grew its position in Kontoor Brands, Inc. (NYSE:KTB) by 158.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,285 shares of the company’s stock after acquiring an additional 18,575 shares during the period. Gotham Asset Management LLC’s holdings in Kontoor Brands were worth $2,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position 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 acquiring an additional 7,445 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 35,932 shares during the period. Level Wealth Management LLC bought a new position in shares of Kontoor Brands in the 4th quarter valued at about $350,000. Barclays PLC grew its position 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 acquiring an additional 77,137 shares during the period. Finally, Vest Financial LLC grew its position in shares of Kontoor Brands by 47.7% in the 4th quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock valued at $2,413,000 after acquiring an additional 9,121 shares during the period. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 research report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus reduced their target price 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. Finally, Barclays lifted their target price 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $85.80.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $73.62 on Friday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The company has a 50-day simple moving average of $61.88 and a 200 day simple moving average of $77.25. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.83%. Kontoor Brands’s payout ratio 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.