Bank of Montreal Can Acquires 514 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Bank of Montreal Can raised its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,646 shares of the company’s stock after purchasing an additional 514 shares during the quarter. Bank of Montreal Can’s holdings in Kontoor Brands were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Kontoor Brands during the fourth quarter valued at about $17,630,000. Geode Capital Management LLC grew its position in shares of Kontoor Brands by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after acquiring an additional 199,601 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kontoor Brands by 28.4% during the 4th 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 last quarter. Skandinaviska Enskilda Banken AB publ increased its stake 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 worth $24,626,000 after purchasing an additional 116,000 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Kontoor Brands in the 4th quarter worth approximately $7,512,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Up 2.5 %

Shares of KTB opened at $54.99 on Friday. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The stock has a market cap of $3.04 billion, a PE ratio of 12.39, a P/E/G ratio of 2.12 and a beta of 0.93. 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 business’s 50-day moving average price is $65.49 and its 200-day moving average price is $79.24.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the prior year, the firm posted $1.28 EPS. Kontoor Brands’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid 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 yield of 3.78%. Kontoor Brands’s dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays decreased their price objective on 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 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, Stifel Nicolaus lowered their price target on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.