Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 67.1% in the 4th quarter, Holdings Channel reports. The fund owned 289,000 shares of the company’s stock after acquiring an additional 116,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Kontoor Brands were worth $24,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after purchasing an additional 26,759 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after acquiring an additional 44,287 shares during the period. Geode Capital Management LLC grew its stake in shares of Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after purchasing an additional 15,058 shares during the period. Jennison Associates LLC grew its position in Kontoor Brands by 4.6% during the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after buying an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after acquiring an additional 35,932 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KTB. UBS Group dropped their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays lowered their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Trading Down 2.6 %

KTB stock opened at $59.50 on Friday. 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 company has a market cap of $3.29 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.12 and a beta of 1.23. The business has a fifty day simple moving average of $81.15 and a 200-day simple moving average of $82.35. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.50%. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

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.