Kontoor Brands, Inc. (NYSE:KTB) Position Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lifted its position in Kontoor Brands, Inc. (NYSE:KTB) by 45.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,100 shares of the company’s stock after buying an additional 10,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Kontoor Brands were worth $2,789,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KTB. Kesler Norman & Wride LLC purchased a new position in shares of Kontoor Brands during the third quarter valued at $604,000. Azzad Asset Management Inc. ADV boosted its position in Kontoor Brands by 2.8% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 36,210 shares of the company’s stock worth $2,961,000 after acquiring an additional 983 shares during the period. GAMMA Investing LLC grew its stake in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after acquiring an additional 244 shares in the last quarter. SG Americas Securities LLC grew its stake in Kontoor Brands by 55.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,516 shares of the company’s stock valued at $451,000 after acquiring an additional 1,972 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Kontoor Brands by 20.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,756 shares of the company’s stock valued at $182,000 after purchasing an additional 461 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Guggenheim boosted their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays increased their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.33.

Kontoor Brands Trading Up 3.9 %

Shares of NYSE:KTB opened at $81.91 on Friday. Kontoor Brands, Inc. has a 1 year low of $39.90 and a 1 year high of $83.50. The firm has a fifty day moving average price of $74.95 and a 200 day moving average price of $68.92. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $4.56 billion, a PE ratio of 19.36, a P/E/G ratio of 2.08 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The business had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is currently 47.28%.

Kontoor Brands Company 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.