Skandinaviska Enskilda Banken AB publ Has $15.94 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Kontoor Brands by 14.0% during the 1st quarter, owning approximately 248,500 shares worth $15,936,000 after selling 40,500 shares.
• Kontoor Brands recently reported an EPS of $1.20, surpassing the consensus estimate by $0.04, although revenue of $622.90 million fell short of expectations.
• The company declared a quarterly dividend of $0.52, with an annualized yield of 3.33% and a payout ratio of 50.98%, to be paid on September 19th.

Skandinaviska Enskilda Banken AB publ lowered its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 248,500 shares of the company's stock after selling 40,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.45% of Kontoor Brands worth $15,936,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of KTB. Huntington National Bank raised its position in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after acquiring an additional 148 shares during the last quarter. CX Institutional bought a new stake in shares of Kontoor Brands during the first quarter worth $32,000. Versant Capital Management Inc raised its position in shares of Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $42,000 after acquiring an additional 207 shares during the last quarter. Quarry LP raised its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after acquiring an additional 450 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kontoor Brands during the fourth quarter worth $98,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Trading Down 2.7%

NYSE KTB traded down $1.61 on Wednesday, reaching $59.22. The company had a trading volume of 183,355 shares, compared to its average volume of 708,368. The stock's 50 day moving average is $66.85 and its 200-day moving average is $69.51. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.49 and a beta of 1.12. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.08 annualized dividend and a yield of 3.51%. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

Analysts Set New Price Targets

KTB has been the subject of a number of recent research reports. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Barclays boosted their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus dropped their target price 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. UBS Group boosted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $87.50.

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.