Pacer Advisors Inc. Has $135.19 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

Pacer Advisors Inc. grew its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,043,637 shares of the company’s stock after purchasing an additional 201,399 shares during the period. Pacer Advisors Inc. owned approximately 3.66% of Kontoor Brands worth $135,187,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KTB. Arizona State Retirement System lifted its holdings in shares of Kontoor Brands by 1.1% in the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock worth $929,000 after acquiring an additional 154 shares during the last quarter. SG Americas Securities LLC raised its position in Kontoor Brands by 5.0% in the second quarter. SG Americas Securities LLC now owns 3,544 shares of the company’s stock valued at $234,000 after purchasing an additional 169 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Kontoor Brands by 3.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock valued at $329,000 after purchasing an additional 175 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Kontoor Brands by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $1,654,000 after purchasing an additional 200 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Kontoor Brands by 2.2% in the second quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock valued at $616,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kontoor Brands Price Performance

Shares of KTB opened at $78.72 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of 19.93, 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 $79.06. 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 business’s 50 day moving average price is $71.59 and its two-hundred day moving average price is $66.79.

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

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s payout ratio is 50.63%.

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.