Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,229 shares of the company’s stock after buying an additional 431 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Kontoor Brands were worth $2,387,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KTB. Marshall Wace LLP increased its position in shares of Kontoor Brands by 97.3% during the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock worth $49,524,000 after purchasing an additional 285,897 shares in the last quarter. Man Group plc grew its stake in Kontoor Brands by 119.1% during the 4th quarter. Man Group plc now owns 466,065 shares of the company’s stock worth $39,807,000 after buying an additional 253,360 shares during the last quarter. Norges Bank acquired a new position in Kontoor Brands during the fourth quarter worth approximately $17,630,000. Geode Capital Management LLC lifted its stake in Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after buying an additional 199,601 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after buying an additional 188,001 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Down 3.9%

Shares of Kontoor Brands stock opened at $62.01 on Friday. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a market cap of $3.45 billion, a P/E ratio of 13.97, a PEG ratio of 2.12 and a beta of 1.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a fifty day moving average of $64.88 and a two-hundred day moving average of $74.44.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is presently 50.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Barclays raised their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a “buy” rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

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.