International Assets Investment Management LLC Boosts Stake in Kontoor Brands, Inc. (NYSE:KTB)

International Assets Investment Management LLC boosted its position in Kontoor Brands, Inc. (NYSE:KTB) by 8,078.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,623 shares of the company’s stock after purchasing an additional 28,273 shares during the period. International Assets Investment Management LLC owned approximately 0.05% of Kontoor Brands worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC increased its stake in Kontoor Brands by 44.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after buying an additional 7,466 shares during the period. Magnetar Financial LLC bought a new position in Kontoor Brands in the 1st quarter worth about $1,508,000. Sei Investments Co. increased its position in shares of Kontoor Brands by 78.9% during the second quarter. Sei Investments Co. now owns 52,658 shares of the company’s stock worth $3,483,000 after acquiring an additional 23,223 shares during the period. American Century Companies Inc. raised its stake in shares of Kontoor Brands by 48.7% during the second quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after acquiring an additional 11,810 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KTB. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $89.00 to $93.00 in a report on Friday. UBS Group increased their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Guggenheim increased their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Price Performance

Shares of KTB stock opened at $81.65 on Monday. The stock’s 50-day moving average is $77.81 and its 200 day moving average is $71.57. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $89.76. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.43. The company has a market cap of $4.55 billion, a P/E ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same period in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts predict that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.55%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is 45.05%.

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.