Aigen Investment Management LP Lowers Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Aigen Investment Management LP lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 79.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,493 shares of the company’s stock after selling 9,756 shares during the period. Aigen Investment Management LP’s holdings in Kontoor Brands were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after acquiring an additional 320,117 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Kontoor Brands in the 3rd quarter worth about $8,479,000. Barclays PLC raised its position in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after purchasing an additional 77,137 shares during the last quarter. LMR Partners LLP bought a new position in Kontoor Brands in the 3rd quarter worth about $4,799,000. Finally, Pacer Advisors Inc. grew its position 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 during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays decreased their target price 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. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, UBS Group cut their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

Kontoor Brands Stock Down 1.2 %

KTB opened at $60.41 on Monday. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The firm’s 50 day simple moving average is $83.17 and its two-hundred day simple moving average is $82.84. The company has a market capitalization of $3.34 billion, a PE ratio of 13.61, a PEG ratio of 2.12 and a beta of 1.23. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating 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 business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

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

Kontoor Brands Company 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.