Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 395.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,700 shares of the company’s stock after purchasing an additional 24,500 shares during the period. Renaissance Technologies LLC owned 0.06% of Kontoor Brands worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of Kontoor Brands during the third quarter worth about $332,000. Principal Financial Group Inc. increased its holdings in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after purchasing an additional 7,445 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Kontoor Brands by 407.3% in the 4th 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after buying an additional 35,932 shares during the last quarter. Finally, Level Wealth Management LLC acquired a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $350,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of KTB opened at $62.48 on Friday. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a fifty day moving average price of $63.64 and a 200 day moving average price of $78.70. The company has a market cap of $3.46 billion, a P/E ratio of 14.07, a PEG ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

KTB has been the topic of a number of research analyst reports. UBS Group reduced their price objective 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. Barclays decreased their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Stifel Nicolaus lowered their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.