Livforsakringsbolaget Skandia Omsesidigt Acquires New Shares in Kontoor Brands, Inc. (NYSE:KTB)

Livforsakringsbolaget Skandia Omsesidigt acquired 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 & Exchange Commission. The firm acquired 6,700 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently bought and sold shares of KTB. Advisor Group Holdings Inc. lifted its position in shares of Kontoor Brands by 7.3% in the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock worth $295,000 after buying an additional 418 shares during the last quarter. Raymond James & Associates lifted its position in shares of Kontoor Brands by 8.1% in the first quarter. Raymond James & Associates now owns 24,441 shares of the company’s stock worth $1,011,000 after buying an additional 1,821 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Kontoor Brands by 4.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company’s stock worth $442,000 after buying an additional 439 shares during the last quarter. Citigroup Inc. lifted its position in shares of Kontoor Brands by 3.5% in the first quarter. Citigroup Inc. now owns 45,858 shares of the company’s stock worth $1,895,000 after buying an additional 1,561 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Kontoor Brands by 2.1% in the first quarter. Bank of Montreal Can now owns 17,999 shares of the company’s stock worth $771,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Trading Up 0.5 %

Shares of KTB opened at $55.12 on Thursday. Kontoor Brands, Inc. has a 12-month low of $37.10 and a 12-month high of $64.49. 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 firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.45 and a beta of 1.13. The stock’s 50-day moving average price is $59.39 and its 200 day moving average price is $55.78.

Kontoor Brands (NYSE:KTB) last issued its quarterly 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 net margin of 8.86% and a return on equity of 76.30%. The firm had revenue of $669.80 million for the quarter, compared to the consensus estimate of $720.70 million. As a group, research analysts predict that Kontoor Brands, Inc. will post 4.7 earnings per share for the current year.

Kontoor Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of analyst reports. Barclays reduced their price target on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. UBS Group lifted their price objective on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group lifted their price objective on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.40.

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.