First Trust Advisors LP Has $89.14 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

First Trust Advisors LP grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,043,684 shares of the company's stock after buying an additional 140,068 shares during the period. First Trust Advisors LP owned approximately 1.89% of Kontoor Brands worth $89,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in Kontoor Brands in the third quarter valued at approximately $332,000. Principal Financial Group Inc. raised its holdings in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after buying an additional 7,445 shares during the period. Fortitude Family Office LLC lifted its stake in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after buying an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kontoor Brands by 5.4% during the fourth 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 Kontoor Brands in the 4th quarter valued at $350,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

Shares of KTB stock traded down $1.07 during trading on Friday, reaching $61.38. 528,712 shares of the company's stock were exchanged, compared to its average volume of 539,121. 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 firm's fifty day moving average price is $63.64 and its 200-day moving average price is $78.70. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The stock has a market capitalization of $3.40 billion, a PE ratio of 13.82, 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, topping the consensus estimate of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.39%. Kontoor Brands's payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Stifel Nicolaus dropped their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.