Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,160 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,506 shares of the company’s stock after acquiring an additional 1,160 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kontoor Brands were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC lifted its position in shares of Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after purchasing an additional 172 shares during the period. Kinloch Capital LLC raised its position in shares of Kontoor Brands by 0.6% in the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after acquiring an additional 209 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Kontoor Brands by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock valued at $705,000 after purchasing an additional 250 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Kontoor Brands by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after purchasing an additional 279 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Kontoor Brands by 2.4% in the third quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock worth $631,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $63.83 on Tuesday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. Kontoor Brands, Inc. has a one year low of $37.10 and a one year high of $64.49. The company’s 50-day moving average is $59.00 and its 200 day moving average is $56.79.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The firm had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, June 10th. Kontoor Brands’s payout ratio is currently 49.26%.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group raised their price objective on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Barclays lowered their target price on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.40.

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.