Intech Investment Management LLC Buys 69,609 Shares of Kontoor Brands, Inc. $KTB

Intech Investment Management LLC increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 100.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,122 shares of the company’s stock after buying an additional 69,609 shares during the quarter. Intech Investment Management LLC owned 0.25% of Kontoor Brands worth $11,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KTB. US Bancorp DE raised its stake in Kontoor Brands by 21.1% during the third quarter. US Bancorp DE now owns 3,519 shares of the company’s stock worth $281,000 after acquiring an additional 614 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of Kontoor Brands by 10.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 21,584 shares of the company’s stock worth $1,722,000 after purchasing an additional 2,053 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Kontoor Brands by 11.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the company’s stock worth $130,000 after purchasing an additional 164 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Kontoor Brands by 2,538.5% during the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after purchasing an additional 330 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in Kontoor Brands by 17.2% in the third quarter. Hillsdale Investment Management Inc. now owns 95,400 shares of the company’s stock valued at $7,610,000 after buying an additional 14,000 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KTB has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kontoor Brands in a report on Monday, December 29th. Jefferies Financial Group started coverage on Kontoor Brands in a research note on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price objective on the stock. BNP Paribas Exane set a $50.00 target price on Kontoor Brands in a report on Tuesday, December 9th. Finally, Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.67.

Kontoor Brands Stock Up 0.2%

Shares of KTB opened at $66.82 on Friday. The business’s fifty day moving average price is $62.79 and its two-hundred day moving average price is $71.72. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 17.22 and a beta of 1.19. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $87.00. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 54.64%.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.