Taika Capital LP Makes New $705,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Taika Capital LP acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,257 shares of the company’s stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp increased its holdings in Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after purchasing an additional 26,759 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Kontoor Brands by 2.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after purchasing an additional 44,287 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after purchasing an additional 15,058 shares in the last quarter. Jennison Associates LLC increased its holdings in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock valued at $67,651,000 after purchasing an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 35,932 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KTB. UBS Group dropped their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company raised their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Barclays lowered their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.17.

Kontoor Brands Stock Down 1.2 %

Shares of NYSE:KTB opened at $60.41 on Monday. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. The company has a 50 day moving average of $83.17 and a 200-day moving average of $82.84. 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 market cap of $3.34 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 1.23.

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

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.44%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

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.