Dynamic Technology Lab Private Ltd Lowers Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Dynamic Technology Lab Private Ltd lessened its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,779 shares of the company's stock after selling 12,093 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Kontoor Brands were worth $1,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Kontoor Brands in the 4th quarter worth $17,630,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 199,601 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of 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 purchasing an additional 116,000 shares during the period. Finally, Schroder Investment Management Group bought a new stake in Kontoor Brands during the fourth quarter valued at about $7,512,000. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 1.9 %

Shares of KTB stock traded down $1.09 on Friday, hitting $56.10. The stock had a trading volume of 105,698 shares, compared to its average volume of 533,162. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a market cap of $3.10 billion, a PE ratio of 12.65, a P/E/G ratio of 2.12 and a beta of 0.93. The business has a 50 day moving average price of $69.19 and a 200 day moving average price of $80.30.

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

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

A number of research analysts recently commented on KTB shares. Stifel Nicolaus lowered their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday. Barclays dropped their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price objective on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.