Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC grew its position in Kontoor Brands, Inc. (NYSE:KTB) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,316 shares of the company’s stock after purchasing an additional 1,925 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Kontoor Brands were worth $796,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Kontoor Brands in the fourth quarter valued at about $17,630,000. Geode Capital Management LLC increased its holdings in shares of Kontoor Brands by 16.6% during the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after purchasing an additional 188,001 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Kontoor Brands by 67.1% in 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 in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Kontoor Brands during the 4th quarter worth approximately $7,512,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 0.8 %

KTB stock opened at $64.66 on Wednesday. The company has a market capitalization of $3.58 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The firm’s fifty day simple moving average is $75.26 and its 200-day simple moving average is $81.61. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

KTB has been the topic of a number of recent analyst reports. UBS Group decreased their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company reduced 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. Finally, Barclays lowered their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

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.