KLP Kapitalforvaltning AS Makes New $1.19 Million Investment in Kontoor Brands, Inc. (NYSE:KTB)

KLP Kapitalforvaltning AS bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,900 shares of the company's stock, valued at approximately $1,187,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Kontoor Brands during the 3rd quarter worth $332,000. Janus Henderson Group PLC increased its position in shares of Kontoor Brands by 31.4% during 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. Principal Financial Group Inc. increased its position in shares of Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after purchasing an additional 7,445 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares in the last quarter. Finally, Level Wealth Management LLC bought a new stake in Kontoor Brands in the 4th quarter worth approximately $350,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Down 13.2 %

Shares of NYSE KTB traded down $8.84 during mid-day trading on Thursday, hitting $57.94. The stock had a trading volume of 1,074,128 shares, compared to its average volume of 519,417. The business has a 50 day moving average price of $74.17 and a two-hundred day moving average price of $81.34. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a market cap of $3.21 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93.

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Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to analysts' expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 earnings per share. On average, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.59%. Kontoor Brands's dividend payout ratio is currently 47.60%.

Wall Street Analyst Weigh In

KTB has been the topic of a number of recent research reports. Wells Fargo & Company reduced 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. Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group lowered their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kontoor Brands has a consensus rating of "Moderate Buy" and an average target price of $91.50.

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.