Intact Investment Management Inc. Purchases New Shares in Kontoor Brands, Inc. (NYSE:KTB)

Intact Investment Management Inc. purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,400 shares of the company's stock, valued at approximately $3,396,000. Intact Investment Management Inc. owned 0.10% of Kontoor Brands at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KTB. Commonwealth Equity Services LLC boosted its holdings in Kontoor Brands by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company's stock valued at $554,000 after acquiring an additional 279 shares during the period. Raymond James & Associates boosted its holdings in Kontoor Brands by 91.5% during the third quarter. Raymond James & Associates now owns 66,774 shares of the company's stock valued at $2,932,000 after acquiring an additional 31,912 shares during the period. New York State Teachers Retirement System boosted its holdings in Kontoor Brands by 1.1% during the third quarter. New York State Teachers Retirement System now owns 68,414 shares of the company's stock valued at $3,004,000 after acquiring an additional 718 shares during the period. TD Asset Management Inc boosted its holdings in Kontoor Brands by 35.0% during the third quarter. TD Asset Management Inc now owns 13,900 shares of the company's stock valued at $610,000 after acquiring an additional 3,600 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Kontoor Brands by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,720 shares of the company's stock valued at $207,000 after buying an additional 347 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KTB. Barclays reduced their target price on shares of Kontoor Brands from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. The Goldman Sachs Group increased their target price on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Edward Jones cut shares of Kontoor Brands from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. Finally, UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $70.40.

Kontoor Brands Price Performance

NYSE:KTB traded up $0.40 during mid-day trading on Friday, hitting $62.20. The company's stock had a trading volume of 700,170 shares, compared to its average volume of 439,124. Kontoor Brands, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $64.49. 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 company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.65 and a beta of 1.13. The stock has a fifty day moving average of $58.98 and a 200-day moving average of $56.64.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $669.80 million for the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, June 10th. Kontoor Brands's payout ratio is 49.26%.

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.