Envestnet Asset Management Inc. Sells 32,847 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Envestnet Asset Management Inc. lowered its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,094 shares of the company's stock after selling 32,847 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of Kontoor Brands worth $9,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of 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 lifted its position in Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after buying an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 buying an additional 188,001 shares in the last quarter. Jennison Associates LLC grew its position in Kontoor Brands by 4.6% during the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after acquiring an additional 34,652 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $59,559,000 after purchasing an additional 35,932 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

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

Kontoor Brands Stock Up 1.2 %

NYSE:KTB traded up $0.75 during mid-day trading on Thursday, hitting $61.14. 70,280 shares of the company's stock were exchanged, compared to its average volume of 537,807. The company has a market cap of $3.38 billion, a PE ratio of 13.73, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The business has a fifty day moving average price of $64.07 and a 200 day moving average price of $78.82.

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

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.40%. 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.