Bridgewater Associates LP Buys 8,625 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Bridgewater Associates LP lifted its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,606 shares of the company's stock after acquiring an additional 8,625 shares during the quarter. Bridgewater Associates LP owned approximately 0.09% of Kontoor Brands worth $4,066,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of Kontoor Brands in the 3rd quarter worth $332,000. Principal Financial Group Inc. grew its stake in shares of Kontoor Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after acquiring an additional 7,445 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after acquiring an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after acquiring an additional 35,932 shares in the last quarter. Finally, Level Wealth Management LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth $350,000. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Kontoor Brands stock traded up $2.03 during mid-day trading on Wednesday, reaching $60.51. The company's stock had a trading volume of 219,857 shares, compared to its average volume of 744,581. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The company has a market capitalization of $3.35 billion, a P/E ratio of 13.63, a PEG ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm's fifty day moving average price is $64.53 and its two-hundred day moving average price is $78.94.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced 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. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm earned $1.28 EPS. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is 47.60%.

Analysts Set New Price Targets

Several research firms recently weighed in on KTB. Barclays reduced their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

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.