BI Asset Management Fondsmaeglerselskab A S Has $7.22 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,490 shares of the company's stock after acquiring an additional 19,161 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.15% of Kontoor Brands worth $7,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KTB. Sanctuary Advisors LLC acquired a new position in Kontoor Brands in the third quarter worth about $332,000. Principal Financial Group Inc. grew its position in shares of Kontoor Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after acquiring an additional 7,445 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after acquiring an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after acquiring an additional 35,932 shares during the last quarter. Finally, Level Wealth Management LLC acquired a new stake in shares of Kontoor Brands during the 4th quarter valued at approximately $350,000. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

NYSE KTB traded up $1.96 on Wednesday, hitting $60.44. The stock had a trading volume of 831,108 shares, compared to its average volume of 539,618. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 0.93. The company's 50-day moving average is $64.53 and its two-hundred day moving average is $78.94. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.44%. Kontoor Brands's dividend payout ratio is 47.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KTB. Wells Fargo & Company lowered their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. UBS Group dropped their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Barclays decreased their target price 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, Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Kontoor Brands has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Kontoor Brands Company 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.