CANADA LIFE ASSURANCE Co Boosts Holdings in Kontoor Brands, Inc. (NYSE:KTB)

CANADA LIFE ASSURANCE Co increased its position in Kontoor Brands, Inc. (NYSE:KTB) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,909 shares of the company’s stock after purchasing an additional 290 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Kontoor Brands were worth $5,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP lifted its stake in shares of Kontoor Brands by 97.3% in 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. Norges Bank bought a new position in Kontoor Brands in the 4th quarter valued at approximately $17,630,000. Geode Capital Management LLC boosted its stake in Kontoor Brands by 16.6% during 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 last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kontoor Brands by 28.4% in the 4th 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Kontoor Brands by 67.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after purchasing an additional 116,000 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $60.44 on Thursday. 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 capitalization of $3.34 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The firm’s 50 day moving average price is $64.07 and its 200-day moving average price is $78.82. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KTB shares. Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.