BI Asset Management Fondsmaeglerselskab A S Has $7.22 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

BI Asset Management Fondsmaeglerselskab A S grew its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 29.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,490 shares of the company's stock after buying an additional 19,161 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.15% of Kontoor Brands worth $7,216,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its stake in Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after acquiring an additional 44,287 shares during the period. Geode Capital Management LLC grew its position in shares of Kontoor Brands by 16.6% in 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 period. Dimensional Fund Advisors LP increased its stake in Kontoor Brands by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after purchasing an additional 5,207 shares in the last quarter. First Trust Advisors LP raised its holdings in Kontoor Brands by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock worth $89,141,000 after buying an additional 140,068 shares during the period. Finally, Invesco Ltd. lifted its stake in Kontoor Brands by 10.3% in the fourth quarter. Invesco Ltd. now owns 868,117 shares of the company's stock valued at $74,146,000 after buying an additional 81,321 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 2.8 %

Shares of NYSE:KTB traded down $1.73 during midday trading on Friday, reaching $60.72. The company had a trading volume of 215,211 shares, compared to its average volume of 537,942. The business's 50 day moving average price is $63.64 and its 200 day moving average price is $78.70. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a market cap of $3.36 billion, a PE ratio of 13.68, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million for the quarter, compared to analysts' expectations of $698.07 million. During the same quarter in the prior year, the business posted $1.28 EPS. The business's revenue was up 4.4% compared to the same quarter last year. Research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is currently 47.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective 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. Barclays dropped their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Stifel Nicolaus dropped their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands 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.