Nomura Holdings Inc. reduced its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Several other hedge funds have also modified their holdings of KTB. Cullen Capital Management LLC raised its holdings in shares of Kontoor Brands by 104.3% during the 2nd quarter. Cullen Capital Management LLC now owns 9,182,637 shares of the company's stock valued at $15,113,000 after buying an additional 4,687,259 shares during the period. Jennison Associates LLC raised its holdings in shares of Kontoor Brands by 25.9% during the 3rd quarter. Jennison Associates LLC now owns 1,790,775 shares of the company's stock valued at $60,188,000 after buying an additional 368,007 shares during the period. FMR LLC raised its holdings in shares of Kontoor Brands by 10.2% during the 2nd quarter. FMR LLC now owns 3,128,425 shares of the company's stock valued at $104,395,000 after buying an additional 289,929 shares during the period. Millennium Management LLC raised its holdings in shares of Kontoor Brands by 1,087.0% during the 2nd quarter. Millennium Management LLC now owns 276,745 shares of the company's stock valued at $9,235,000 after buying an additional 253,431 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Kontoor Brands by 457.8% during the 3rd quarter. Royce & Associates LP now owns 225,547 shares of the company's stock valued at $7,581,000 after buying an additional 185,112 shares during the period.

Insider Activity at Kontoor Brands

In related news, COO Thomas E. Waldron sold 31,237 shares of the business's stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $51.93, for a total transaction of $1,622,137.41. Following the completion of the transaction, the chief operating officer now owns 101,347 shares in the company, valued at approximately $5,262,949.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KTB shares. 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 note on Tuesday, January 31st. Barclays raised their price objective on Kontoor Brands from $37.00 to $51.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 7th. Guggenheim lowered their price objective on Kontoor Brands from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, February 15th. The Goldman Sachs Group raised their price objective on Kontoor Brands from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, March 1st. Finally, Wells Fargo & Company raised their price objective on Kontoor Brands from $48.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.25.

Kontoor Brands Price Performance

Shares of KTB opened at $50.58 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.33 and a beta of 1.16. The stock has a 50 day moving average of $46.73 and a 200-day moving average of $41.30. The company has a current ratio of 2.23, a quick ratio of 0.88 and a debt-to-equity ratio of 3.12. Kontoor Brands, Inc. has a 52 week low of $30.98 and a 52 week high of $53.83.

Kontoor Brands (NYSE:KTB – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $731.60 million during the quarter, compared to analyst estimates of $666.78 million. Kontoor Brands had a return on equity of 124.39% and a net margin of 9.33%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, analysts forecast that Kontoor Brands, Inc. will post 4.75 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 10th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.80%. Kontoor Brands's dividend payout ratio is currently 44.65%.

Kontoor Brands Company Profile

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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.

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