Livforsakringsbolaget Skandia Omsesidigt Purchases Shares of 6,700 Kontoor Brands, Inc. (NYSE:KTB)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,700 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Kontoor Brands by 402.9% in the third quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after buying an additional 802,166 shares in the last quarter. Norges Bank acquired a new stake in shares of Kontoor Brands in the fourth quarter valued at about $20,837,000. JPMorgan Chase & Co. grew its stake in shares of Kontoor Brands by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 1,353,135 shares of the company’s stock valued at $59,416,000 after buying an additional 482,274 shares in the last quarter. Morgan Stanley grew its stake in shares of Kontoor Brands by 66.0% in the fourth quarter. Morgan Stanley now owns 1,205,581 shares of the company’s stock valued at $48,211,000 after buying an additional 479,542 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Kontoor Brands by 120.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 518,702 shares of the company’s stock valued at $25,100,000 after buying an additional 283,720 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KTB. Barclays lowered their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. 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 note on Friday, February 16th. Wells Fargo & Company raised their price objective on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Finally, The Goldman Sachs Group raised their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.40.

Kontoor Brands Trading Up 0.5 %

NYSE:KTB opened at $55.12 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05. The business’s 50 day moving average is $59.39 and its two-hundred day moving average is $55.78. Kontoor Brands, Inc. has a 52 week low of $37.10 and a 52 week high of $64.49. The company has a market cap of $3.07 billion, a PE ratio of 13.51, a P/E/G ratio of 1.45 and a beta of 1.13.

Kontoor Brands (NYSE:KTB) last released its earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $720.70 million. On average, analysts predict that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Thursday, March 7th. Kontoor Brands’s dividend payout ratio (DPR) is 49.26%.

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.