Polymer Capital Management US LLC Acquires Shares of 4,580 Kontoor Brands, Inc. (NYSE:KTB)

Polymer Capital Management US LLC purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,580 shares of the company's stock, valued at approximately $391,000.

Several other institutional investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Kontoor Brands by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,225 shares of the company's stock worth $9,668,000 after acquiring an additional 3,044 shares during the period. HighTower Advisors LLC lifted its position in shares of Kontoor Brands by 35.6% in the 3rd quarter. HighTower Advisors LLC now owns 6,097 shares of the company's stock worth $497,000 after purchasing an additional 1,602 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock valued at $3,883,000 after purchasing an additional 11,337 shares during the last quarter. State Street Corp increased its position in shares of Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after buying an additional 26,759 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in Kontoor Brands by 156.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,652 shares of the company's stock worth $1,035,000 after buying an additional 7,715 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

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Analyst Ratings Changes

A number of analysts have commented on KTB shares. Wells Fargo & Company cut their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Barclays dropped their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Stock Up 0.3 %

Shares of NYSE KTB traded up $0.15 during midday trading on Friday, hitting $57.34. 449,706 shares of the stock traded hands, compared to its average volume of 534,757. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The business has a 50 day moving average price of $68.56 and a two-hundred day moving average price of $80.15. The company has a market cap of $3.17 billion, a PE ratio of 12.92, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the previous year, the business posted $1.28 EPS. Kontoor Brands's quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 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.