Alliancebernstein L.P. Purchases 4,680 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Alliancebernstein L.P. increased its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,702 shares of the company's stock after purchasing an additional 4,680 shares during the quarter. Alliancebernstein L.P. owned approximately 0.19% of Kontoor Brands worth $9,028,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KTB. State Street Corp boosted its holdings in Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after buying an additional 26,759 shares during the period. Pacer Advisors Inc. lifted its position in Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after buying an additional 44,287 shares during the last quarter. Geode Capital Management LLC boosted its stake in Kontoor Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock worth $98,409,000 after buying an additional 15,058 shares in the last quarter. JPMorgan Chase & Co. grew its position in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after acquiring an additional 188,001 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of 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 acquiring an additional 34,652 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

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Kontoor Brands Trading Down 0.5 %

NYSE:KTB traded down $0.27 during mid-day trading on Tuesday, reaching $55.77. 186,423 shares of the company's stock traded hands, compared to its average volume of 533,805. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a 50 day moving average price of $67.92 and a 200-day moving average price of $79.96. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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 company had revenue of $699.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's payout ratio is currently 47.60%.

Analyst Ratings Changes

Several equities analysts recently commented on KTB shares. Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price target 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. Finally, UBS Group decreased their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Company 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.