Integrated Quantitative Investments LLC Purchases New Position in Kontoor Brands, Inc. (NYSE:KTB)

Integrated Quantitative Investments LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,229 shares of the company's stock, valued at approximately $1,301,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Kontoor Brands during the 4th quarter valued at about $17,630,000. Geode Capital Management LLC boosted its stake in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after buying an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after buying an additional 188,001 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Kontoor Brands by 67.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company's stock valued at $24,626,000 after buying an additional 116,000 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in Kontoor Brands in the 4th quarter worth approximately $7,512,000. Institutional investors own 93.06% of the company's stock.

Analysts Set New Price Targets

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

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Kontoor Brands Trading Up 1.2 %

Shares of KTB stock traded up $0.63 during trading hours on Wednesday, reaching $52.85. 249,780 shares of the stock were exchanged, compared to its average volume of 528,558. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12-month low of $50.77 and a 12-month high of $96.80. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company's 50-day moving average price is $71.15 and its 200-day moving average price is $80.73.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its 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 return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million for the quarter, compared to analysts' expectations of $698.07 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

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.