Intact Investment Management Inc. Invests $3.40 Million in Kontoor Brands, Inc. (NYSE:KTB)

Intact Investment Management Inc. purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 54,400 shares of the company’s stock, valued at approximately $3,396,000. Intact Investment Management Inc. owned about 0.10% of Kontoor Brands as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Kontoor Brands by 3.6% during the fourth quarter. Russell Investments Group Ltd. now owns 67,210 shares of the company’s stock valued at $4,195,000 after purchasing an additional 2,362 shares during the period. Headlands Technologies LLC bought a new stake in shares of Kontoor Brands during the fourth quarter worth $81,000. Yousif Capital Management LLC grew its holdings in shares of Kontoor Brands by 2.1% during the fourth quarter. Yousif Capital Management LLC now owns 25,430 shares of the company’s stock worth $1,587,000 after purchasing an additional 514 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Kontoor Brands by 36.3% during the fourth quarter. New York State Common Retirement Fund now owns 31,247 shares of the company’s stock worth $1,950,000 after purchasing an additional 8,317 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Kontoor Brands by 160.1% during the fourth quarter. CWM LLC now owns 1,927 shares of the company’s stock worth $120,000 after purchasing an additional 1,186 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays cut their price target on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. UBS Group increased their target price on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group increased their target price on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $70.40.

Kontoor Brands Stock Up 0.6 %

Shares of NYSE KTB traded up $0.40 during mid-day trading on Friday, reaching $62.20. 700,170 shares of the company’s stock were exchanged, compared to its average volume of 439,124. 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 firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.65 and a beta of 1.13. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $64.49. The business has a fifty day simple moving average of $58.98 and a 200 day simple moving average of $56.56.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $669.80 million for the quarter, compared to the consensus estimate 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 expect that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.22%. Kontoor Brands’s payout ratio is 49.26%.

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.