Cibc World Markets Corp Purchases New Stake in Kontoor Brands, Inc. (NYSE:KTB)

Cibc World Markets Corp purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,152 shares of the company’s stock, valued at approximately $440,000.

Several other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its stake in Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after acquiring an additional 141 shares in the last quarter. GAMMA Investing LLC raised its stake in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Kontoor Brands by 7.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock worth $252,000 after acquiring an additional 197 shares in the last quarter. UMB Bank n.a. raised its stake in Kontoor Brands by 0.4% during the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock worth $4,382,000 after acquiring an additional 210 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in Kontoor Brands by 3.8% during the fourth quarter. HighTower Advisors LLC now owns 6,328 shares of the company’s stock worth $540,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kontoor Brands Stock Performance

Shares of KTB stock opened at $63.68 on Monday. The business’s 50 day simple moving average is $78.25 and its 200 day simple moving average is $82.01. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. The stock has a market capitalization of $3.52 billion, a PE ratio of 14.34, a PEG ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same period in the prior year, the business posted $1.28 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s payout ratio is presently 47.60%.

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.