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

Dynamic Technology Lab Private Ltd cut its stake in Kontoor Brands, Inc. (NYSE:KTB) by 45.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 SEC filing.

A number of other institutional investors have also recently bought and sold shares of KTB. Sanctuary Advisors LLC acquired a new stake in Kontoor Brands during the third quarter worth about $332,000. Principal Financial Group Inc. increased its position in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after purchasing an additional 7,445 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares during the period. Fortitude Family Office LLC lifted its position in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares in the last quarter. Finally, Level Wealth Management LLC purchased a new stake in Kontoor Brands during the fourth quarter worth approximately $350,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KTB shares. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $57.72 on Friday. The company’s fifty day moving average price is $73.49 and its two-hundred day moving average price is $81.24. 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 firm has a market capitalization 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. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80.

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

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 dividend yield of 3.60%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

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.