Choreo LLC Takes $803,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Choreo LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,372 shares of the company’s stock, valued at approximately $803,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Kontoor Brands by 44.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock valued at $1,465,000 after acquiring an additional 7,466 shares during the period. Magnetar Financial LLC bought a new position in Kontoor Brands during the 1st quarter valued at about $1,508,000. AMG National Trust Bank boosted its position in Kontoor Brands by 18.5% in the fourth quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock valued at $26,335,000 after buying an additional 65,990 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Kontoor Brands during the first quarter worth about $2,013,000. Finally, Nomura Holdings Inc. increased its holdings in shares of Kontoor Brands by 38.5% during the fourth quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock worth $4,071,000 after buying an additional 18,121 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

KTB has been the topic of several recent analyst reports. Barclays boosted their target price on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Guggenheim boosted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average price target of $78.83.

Kontoor Brands Stock Up 2.8 %

NYSE KTB opened at $74.88 on Friday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Kontoor Brands, Inc. has a 52 week low of $39.90 and a 52 week high of $75.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The stock has a fifty day moving average of $70.31 and a 200-day moving average of $66.16.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10. The business had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. On average, equities research analysts forecast that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

About Kontoor Brands

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.