Nomura Holdings Inc. decreased its position in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,700 shares of the company's stock after selling 2,500 shares during the quarter. Nomura Holdings Inc. owned 0.13% of Kontoor Brands worth $2,445,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in KTB. Coston McIsaac & Partners acquired a new position in shares of Kontoor Brands in the 2nd quarter worth approximately $68,000. Point72 Hong Kong Ltd acquired a new position in shares of Kontoor Brands in the 2nd quarter worth approximately $109,000. Tower Research Capital LLC TRC grew its position in shares of Kontoor Brands by 77.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the company's stock worth $129,000 after acquiring an additional 1,674 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Kontoor Brands by 70.6% in the 2nd quarter. SG Americas Securities LLC now owns 5,435 shares of the company's stock worth $181,000 after acquiring an additional 2,249 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter worth approximately $207,000.
Get Kontoor Brands alerts:Analyst Ratings Changes
KTB has been the subject of a number of analyst reports. Guggenheim reduced their price objective on Kontoor Brands from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, February 15th. The Goldman Sachs Group boosted their price objective on Kontoor Brands from $41.00 to $47.00 and gave the company a "neutral" rating in a research report on Wednesday, March 1st. Stifel Nicolaus upgraded Kontoor Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $63.00 in a research report on Tuesday, February 28th. Williams Trading upgraded Kontoor Brands from a "hold" rating to a "buy" rating and set a $53.00 price objective for the company in a research report on Tuesday, January 31st. Finally, Wells Fargo & Company boosted their price objective on Kontoor Brands from $48.00 to $59.00 and gave the company an "overweight" rating in a research report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kontoor Brands presently has an average rating of "Moderate Buy" and an average target price of $55.25.
Kontoor Brands Stock Down 1.4 %
Shares of Kontoor Brands stock opened at $50.58 on Friday. The business's fifty day moving average price is $46.73 and its two-hundred day moving average price is $41.30. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.23 and a quick ratio of 0.88. The company has a market capitalization of $2.81 billion, a P/E ratio of 11.76, a PEG ratio of 1.33 and a beta of 1.16. Kontoor Brands, Inc. has a 1-year low of $30.98 and a 1-year high of $53.83.
Kontoor Brands (NYSE:KTB – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.12. Kontoor Brands had a return on equity of 124.39% and a net margin of 9.33%. The company had revenue of $731.60 million for the quarter, compared to the consensus estimate of $666.78 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.75 EPS for the current year.
Kontoor Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Friday, March 10th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, March 9th. Kontoor Brands's dividend payout ratio is presently 44.65%.
Insider Transactions at Kontoor Brands
In other news, COO Thomas E. Waldron sold 31,237 shares of the business's stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $51.93, for a total value of $1,622,137.41. Following the sale, the chief operating officer now owns 101,347 shares of the company's stock, valued at approximately $5,262,949.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company's stock.
About Kontoor Brands
(Get Rating)
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.
Featured Articles
- Get a free copy of the StockNews.com research report on Kontoor Brands (KTB)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.