KLP Kapitalforvaltning AS Acquires New Position in Kontoor Brands, Inc. (NYSE:KTB)

KLP Kapitalforvaltning AS bought a new position in Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,900 shares of the company’s stock, valued at approximately $1,187,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KTB. Janney Montgomery Scott LLC lifted its holdings in shares of Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after purchasing an additional 141 shares during the last quarter. GAMMA Investing LLC increased its position in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after buying an additional 182 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in Kontoor Brands by 7.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock worth $252,000 after buying an additional 197 shares during the period. UMB Bank n.a. lifted its stake in Kontoor Brands by 0.4% in the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock valued at $4,382,000 after buying an additional 210 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Kontoor Brands by 3.8% during the fourth quarter. HighTower Advisors LLC now owns 6,328 shares of the company’s stock valued at $540,000 after acquiring an additional 231 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Stock Down 2.5 %

Kontoor Brands stock opened at $63.78 on Friday. The company’s 50-day moving average price is $76.20 and its two-hundred day moving average price is $81.67. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. 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 posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.28 earnings per share. On average, analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.26%. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

Kontoor Brands 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.