KLP Kapitalforvaltning AS Makes New $1.19 Million Investment in Kontoor Brands, Inc. (NYSE:KTB)

KLP Kapitalforvaltning AS acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, Holdings Channel.com reports. The fund acquired 13,900 shares of the company’s stock, valued at approximately $1,187,000.

Several other large investors have also modified their holdings of KTB. Janney Montgomery Scott LLC raised its position in shares of 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 purchasing an additional 141 shares during the period. GAMMA Investing LLC increased its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Kontoor Brands by 7.1% during the 4th 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% during 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 in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Kontoor Brands by 3.8% in the fourth quarter. HighTower Advisors LLC now owns 6,328 shares of the company’s stock worth $540,000 after buying an additional 231 shares during the period. 93.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KTB shares. UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their target price 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, Barclays decreased their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Kontoor Brands Stock Down 2.5 %

Kontoor Brands stock opened at $63.78 on Friday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. 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 market cap of $3.53 billion, a PE ratio of 14.36, a P/E/G ratio of 2.12 and a beta of 1.23. The firm’s 50 day moving average price is $76.20 and its two-hundred day moving average price is $81.67.

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

Kontoor Brands Dividend Announcement

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