International Assets Investment Management LLC Makes New Investment in Kontoor Brands, Inc. (NYSE:KTB)

International Assets Investment Management LLC bought a new position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,847 shares of the company's stock, valued at approximately $1,364,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Kontoor Brands in the fourth quarter worth approximately $25,000. Legato Capital Management LLC bought a new position in shares of Kontoor Brands in the fourth quarter worth approximately $453,000. SG Americas Securities LLC purchased a new position in shares of Kontoor Brands during the fourth quarter valued at approximately $286,000. Vanguard Group Inc. raised its holdings in shares of Kontoor Brands by 0.3% during the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company's stock valued at $282,195,000 after purchasing an additional 20,964 shares during the last quarter. Finally, Graham Capital Management L.P. raised its holdings in shares of Kontoor Brands by 97.7% during the third quarter. Graham Capital Management L.P. now owns 47,463 shares of the company's stock valued at $2,084,000 after purchasing an additional 23,453 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

KTB stock traded up $0.94 during midday trading on Monday, reaching $57.39. 394,848 shares of the company's stock traded hands, compared to its average volume of 551,368. Kontoor Brands, Inc. has a 52-week low of $37.10 and a 52-week high of $64.49. The stock has a market cap of $3.20 billion, a P/E ratio of 13.90, a PEG ratio of 1.50 and a beta of 1.13. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The stock's 50-day moving average is $59.15 and its 200 day moving average is $56.04.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. The business had revenue of $669.80 million for the quarter, compared to analysts' expectations of $720.70 million. As a group, analysts anticipate that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.48%. Kontoor Brands's dividend payout ratio (DPR) is presently 49.26%.

Wall Street Analysts Forecast Growth

KTB has been the subject of several research reports. UBS Group boosted their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a "buy" rating in a report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Edward Jones cut shares of Kontoor Brands from a "buy" rating to a "hold" rating in a report on Friday, January 26th. Finally, Barclays decreased their price objective on shares of Kontoor Brands from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.40.

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.