Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its position in Kontoor Brands, Inc. (NYSE:KTB) by 45.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,779 shares of the company’s stock after selling 12,093 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Kontoor Brands were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KTB. Norges Bank acquired a new position in shares of Kontoor Brands in the 4th quarter valued at about $17,630,000. Geode Capital Management LLC lifted its holdings in Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after acquiring an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after acquiring an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Kontoor Brands by 67.1% during the fourth 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 last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $7,512,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $57.72 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.12 and a beta of 0.93. The firm’s 50-day simple moving average is $73.49 and its 200 day simple moving average is $81.24. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week 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.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for 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 previous year, the firm earned $1.28 EPS. Equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays lowered their price objective 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. 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 report on Friday, February 28th. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

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.