Livforsakringsbolaget Skandia Omsesidigt Sells 10,000 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 29.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,100 shares of the company's stock after selling 10,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Kontoor Brands were worth $1,544,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KTB. Marshall Wace LLP grew its holdings in shares of Kontoor Brands by 97.3% during the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock worth $49,524,000 after buying an additional 285,897 shares in the last quarter. Man Group plc lifted its holdings in shares of Kontoor Brands by 119.1% during the 4th quarter. Man Group plc now owns 466,065 shares of the company's stock worth $39,807,000 after acquiring an additional 253,360 shares during the period. Norges Bank acquired a new stake in shares of Kontoor Brands in the fourth quarter worth approximately $17,630,000. Geode Capital Management LLC grew its holdings in Kontoor Brands by 16.6% in the fourth 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 period. Finally, JPMorgan Chase & Co. increased its position in Kontoor Brands by 28.4% during the fourth 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 last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

NYSE:KTB traded down $1.01 during mid-day trading on Friday, reaching $63.54. 122,960 shares of the stock were exchanged, compared to its average volume of 557,467. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The business has a fifty day moving average price of $64.68 and a 200 day moving average price of $74.76. The firm has a market capitalization of $3.53 billion, a PE ratio of 14.30, a PEG ratio of 2.12 and a beta of 1.16. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million for the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. Research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is currently 50.98%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KTB shares. Barclays lifted their target price on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One 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, Kontoor Brands has a consensus rating of "Moderate Buy" and a consensus target price 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.