5,832 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Olympiad Research LP

Olympiad Research LP purchased a new position in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,832 shares of the company’s stock, valued at approximately $498,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its stake in Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC lifted its position in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in Kontoor Brands by 7.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock valued at $252,000 after buying an additional 197 shares during the period. UMB Bank n.a. lifted its position in Kontoor Brands by 0.4% during the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock valued at $4,382,000 after buying an additional 210 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $88.01 on Friday. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The business has a fifty day moving average price of $87.12 and a 200-day moving average price of $82.91. The company has a market capitalization of $4.85 billion, a PE ratio of 19.82, a PEG ratio of 2.12 and a beta of 1.19.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. Kontoor Brands’s payout ratio is presently 46.85%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KTB. UBS Group lowered their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim raised their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Kontoor Brands 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.