Profund Advisors LLC Has $337,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Profund Advisors LLC boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,998 shares of the company’s stock after acquiring an additional 284 shares during the quarter. Profund Advisors LLC’s holdings in Kontoor Brands were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in Kontoor Brands by 802.0% during the first quarter. Lazard Asset Management LLC now owns 920 shares of the company’s stock worth $44,000 after buying an additional 818 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Kontoor Brands by 273.6% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,061 shares of the company’s stock valued at $60,000 after purchasing an additional 777 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Kontoor Brands by 402.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,270 shares of the company’s stock valued at $72,000 after purchasing an additional 1,017 shares in the last quarter. Bbva USA acquired a new stake in shares of Kontoor Brands in the 2nd quarter valued at $82,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Kontoor Brands in the 2nd quarter valued at $131,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Several brokerages have recently commented on KTB. The Goldman Sachs Group began coverage on shares of Kontoor Brands in a research note on Wednesday, July 14th. They issued a “buy” rating and a $69.00 target price on the stock. Zacks Investment Research downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, October 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands presently has a consensus rating of “Buy” and an average target price of $65.57.

Kontoor Brands stock opened at $48.79 on Thursday. The stock has a 50-day simple moving average of $53.87 and a 200 day simple moving average of $57.53. The company has a quick ratio of 1.12, a current ratio of 2.08 and a debt-to-equity ratio of 5.08. Kontoor Brands, Inc. has a 12-month low of $26.78 and a 12-month high of $69.16. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.47 and a beta of 1.30.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. Kontoor Brands had a return on equity of 257.55% and a net margin of 8.04%. The business had revenue of $490.77 million during the quarter, compared to analysts’ expectations of $492.10 million. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 20th. Investors of record on Friday, September 10th were issued a $0.40 dividend. The ex-dividend date was Thursday, September 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. Kontoor Brands’s dividend payout ratio is 61.30%.

Kontoor Brands Profile

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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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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