Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by AMG National Trust Bank

AMG National Trust Bank cut its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 36.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,983 shares of the company's stock after selling 111,078 shares during the quarter. AMG National Trust Bank owned approximately 0.35% of Kontoor Brands worth $16,359,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KTB. HHM Wealth Advisors LLC purchased a new position in Kontoor Brands during the 4th quarter worth $29,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands during the third quarter worth about $32,000. Farther Finance Advisors LLC increased its holdings in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after acquiring an additional 274 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after acquiring an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after purchasing an additional 182 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of KTB stock traded up $0.75 during trading hours on Tuesday, hitting $60.12. The company's stock had a trading volume of 1,183,591 shares, compared to its average volume of 693,413. The stock has a market cap of $3.33 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a 50 day moving average of $82.65 and a 200 day moving average of $82.75. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

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

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Monday, March 10th. Kontoor Brands's payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

KTB has been the topic of several research analyst reports. Barclays dropped their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, UBS Group reduced their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and an average target price of $93.17.

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.