Intech Investment Management LLC Acquires 69,609 Shares of Kontoor Brands, Inc. $KTB

Intech Investment Management LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 100.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 139,122 shares of the company’s stock after acquiring an additional 69,609 shares during the quarter. Intech Investment Management LLC’s holdings in Kontoor Brands were worth $11,098,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Kontoor Brands by 21.1% during the 3rd quarter. US Bancorp DE now owns 3,519 shares of the company’s stock valued at $281,000 after acquiring an additional 614 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Kontoor Brands by 10.5% during the third quarter. Dana Investment Advisors Inc. now owns 21,584 shares of the company’s stock worth $1,722,000 after purchasing an additional 2,053 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Kontoor Brands by 11.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,633 shares of the company’s stock valued at $130,000 after purchasing an additional 164 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Kontoor Brands by 2,538.5% in the third quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after purchasing an additional 330 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Kontoor Brands by 17.2% in the third quarter. Hillsdale Investment Management Inc. now owns 95,400 shares of the company’s stock valued at $7,610,000 after buying an additional 14,000 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $66.82 on Friday. The firm has a market cap of $3.71 billion, a P/E ratio of 17.22 and a beta of 1.19. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $87.00. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91. The firm’s 50 day moving average price is $62.79 and its two-hundred day moving average price is $71.72.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, March 10th. Kontoor Brands’s dividend payout ratio is 54.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KTB. UBS Group boosted their target price on Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wells Fargo & Company reduced their price objective on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kontoor Brands in a report on Monday, December 29th. Finally, BTIG Research reissued a “buy” rating and set a $95.00 price target on shares of Kontoor Brands in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $84.67.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.