Cibc World Markets Corp Acquires New Position in Kontoor Brands, Inc. (NYSE:KTB)

Cibc World Markets Corp purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,152 shares of the company's stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KTB. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Kontoor Brands by 67.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company's stock valued at $24,626,000 after purchasing an additional 116,000 shares in the last quarter. Walleye Capital LLC purchased a new stake in Kontoor Brands during the third quarter valued at about $8,479,000. Barclays PLC grew its stake in shares of Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company's stock valued at $8,303,000 after buying an additional 77,137 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kontoor Brands in the fourth quarter worth about $6,314,000. Finally, Pacer Advisors Inc. increased its holdings in shares of Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after buying an additional 44,287 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Trading Up 1.6 %

NYSE KTB traded up $1.01 on Thursday, hitting $65.42. The company's stock had a trading volume of 651,720 shares, compared to its average volume of 495,062. The firm has a market cap of $3.62 billion, a P/E ratio of 14.73, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The company's 50-day simple moving average is $77.03 and its 200 day simple moving average is $81.77. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Remove Ads

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, topping analysts' consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. Research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.18%. Kontoor Brands's payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KTB. UBS Group dropped their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.50.

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.