179,742 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Bwcp LP

Bwcp LP purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 179,742 shares of the company’s stock, valued at approximately $11,890,000. Kontoor Brands accounts for approximately 3.0% of Bwcp LP’s investment portfolio, making the stock its 18th largest position. Bwcp LP owned 0.32% of Kontoor Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of Kontoor Brands in the fourth quarter worth $32,000. Norges Bank bought a new stake in Kontoor Brands during the fourth quarter valued at about $23,695,000. Advisory Services Network LLC purchased a new stake in shares of Kontoor Brands during the fourth quarter worth about $205,000. TFO Wealth Partners LLC raised its stake in Kontoor Brands by 148,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,962 shares of the company’s stock valued at $185,000 after purchasing an additional 2,960 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Kontoor Brands by 63.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 32,601 shares of the company’s stock worth $2,035,000 after purchasing an additional 12,715 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

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

Kontoor Brands Trading Up 1.7 %

Shares of KTB opened at $78.96 on Wednesday. The stock has a market capitalization of $4.40 billion, a PE ratio of 19.99, a P/E/G ratio of 2.02 and a beta of 1.20. The company’s fifty day moving average is $72.03 and its 200 day moving average is $67.11. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. Kontoor Brands, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $79.46.

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

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Tuesday, September 10th. Kontoor Brands’s payout ratio 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.