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

Bank of Montreal Can lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Kontoor Brands during the fourth quarter worth approximately $17,630,000. Geode Capital Management LLC grew its holdings 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 purchasing an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. raised its position in Kontoor Brands by 28.4% in 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 period. Skandinaviska Enskilda Banken AB publ lifted its stake in Kontoor Brands by 67.1% in the fourth 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 purchased a new stake in Kontoor Brands during the fourth quarter valued at about $7,512,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock opened at $54.99 on Friday. The business has a 50 day moving average of $65.49 and a 200 day moving average of $79.24. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The company 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.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $698.07 million. During the same period in the prior year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KTB shares. Barclays decreased their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group lowered 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. One 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 a consensus 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.