5,333 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,333 shares of the company's stock, valued at approximately $455,000.

A number of other institutional investors also recently modified their holdings of KTB. Jennison Associates LLC lifted its holdings in Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock valued at $61,942,000 after buying an additional 320,117 shares during the period. Walleye Capital LLC bought a new position in shares of Kontoor Brands in the 3rd quarter worth about $8,479,000. Barclays PLC raised its position in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after acquiring an additional 77,137 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at about $4,799,000. Finally, Pacer Advisors Inc. boosted its position in shares of Kontoor Brands by 2.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after purchasing an additional 44,287 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Stock Down 1.0 %

Shares of KTB traded down $0.93 during trading hours on Friday, reaching $88.60. The stock had a trading volume of 400,998 shares, compared to its average volume of 548,403. The firm has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $82.78. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 2.12 and a beta of 1.19.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is 46.85%.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group lowered their price objective on shares of Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a research note on Tuesday. Stifel Nicolaus downgraded shares of Kontoor Brands from a "buy" rating to a "hold" rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim raised their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

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.