54,400 Shares in Kontoor Brands, Inc. (NYSE:KTB) Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 54,400 shares of the company’s stock, valued at approximately $3,396,000.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Kontoor Brands by 3.6% in the 4th quarter. Russell Investments Group Ltd. now owns 67,210 shares of the company’s stock valued at $4,195,000 after purchasing an additional 2,362 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Kontoor Brands in the 4th quarter valued at $81,000. Yousif Capital Management LLC grew its position in shares of Kontoor Brands by 2.1% in the 4th quarter. Yousif Capital Management LLC now owns 25,430 shares of the company’s stock valued at $1,587,000 after buying an additional 514 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Kontoor Brands by 36.3% in the 4th quarter. New York State Common Retirement Fund now owns 31,247 shares of the company’s stock valued at $1,950,000 after buying an additional 8,317 shares during the last quarter. Finally, CWM LLC grew its position in shares of Kontoor Brands by 160.1% in the 4th quarter. CWM LLC now owns 1,927 shares of the company’s stock valued at $120,000 after buying an additional 1,186 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Up 0.6 %

Shares of KTB stock traded up $0.40 on Friday, hitting $62.20. The stock had a trading volume of 700,170 shares, compared to its average volume of 439,124. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.65 and a beta of 1.13. The stock’s 50 day moving average is $58.98 and its 200-day moving average is $56.56. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. Kontoor Brands, Inc. has a 52-week low of $37.10 and a 52-week high of $64.49.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.7 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.22%. Kontoor Brands’s dividend payout ratio (DPR) is 49.26%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. UBS Group boosted their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Barclays lowered their target price on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.40.

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.