Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 130.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,979 shares of the company's stock after purchasing an additional 16,974 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.05% of Kontoor Brands worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KTB. Norges Bank acquired a new stake in shares of Kontoor Brands in the 4th quarter worth $17,630,000. JPMorgan Chase & Co. boosted its holdings in Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after acquiring an additional 188,001 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Kontoor Brands by 67.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company's stock worth $24,626,000 after acquiring an additional 116,000 shares during the last quarter. Barclays PLC increased its holdings in shares of Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company's stock valued at $8,303,000 after acquiring an additional 77,137 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $6,314,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

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Analyst Ratings Changes

Several analysts have weighed in on KTB shares. Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Barclays dropped their price objective 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. 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. Finally, Wells Fargo & Company dropped their price target on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded up $0.08 during midday trading on Tuesday, reaching $56.12. The company's stock had a trading volume of 39,645 shares, compared to its average volume of 755,372. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a fifty day moving average of $67.92 and a 200 day moving average of $79.96. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The firm has a market capitalization of $3.10 billion, a PE ratio of 12.63, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million for 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% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. On average, equities analysts expect 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Kontoor Brands 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.