Cibc World Markets Corp Makes New Investment in Kontoor Brands, Inc. (NYSE:KTB)

Cibc World Markets Corp purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,152 shares of the company’s stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Kontoor Brands by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after buying an additional 141 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after buying an additional 182 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Kontoor Brands by 7.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock worth $252,000 after buying an additional 197 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Kontoor Brands by 0.4% during the 4th quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock worth $4,382,000 after buying an additional 210 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Kontoor Brands by 3.8% during the fourth quarter. HighTower Advisors LLC now owns 6,328 shares of the company’s stock worth $540,000 after purchasing an additional 231 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered 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, March 13th. Barclays lowered their target price 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. Finally, UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Trading Up 1.2 %

NYSE KTB opened at $63.68 on Monday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 14.34, a PEG ratio of 2.12 and a beta of 1.23. The business has a fifty day simple moving average of $78.25 and a 200 day simple moving average of $82.01. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The business 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%. Kontoor Brands’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. On average, analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

About Kontoor Brands

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.