Kontoor Brands, Inc. (NYSE:KTB) Position Boosted by Invesco Ltd.

Invesco Ltd. lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 868,117 shares of the company's stock after purchasing an additional 81,321 shares during the period. Invesco Ltd. owned about 1.57% of Kontoor Brands worth $74,146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KTB. Norges Bank purchased a new position in Kontoor Brands in the fourth quarter valued at about $17,630,000. Geode Capital Management LLC grew its position in shares of Kontoor Brands by 16.6% during the fourth 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Kontoor Brands by 67.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company's stock valued at $24,626,000 after acquiring an additional 116,000 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Kontoor Brands during the 4th quarter worth $7,512,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group reduced their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus cut their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays decreased 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. Finally, Wells Fargo & Company reduced their price objective 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Stock Performance

KTB stock traded up $1.34 on Friday, reaching $54.99. The company's stock had a trading volume of 505,736 shares, compared to its average volume of 536,414. The firm has a fifty day moving average of $66.04 and a two-hundred day moving average of $79.43. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market capitalization of $3.04 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 73.99% and a net margin of 9.72%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. As a group, analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.78%. Kontoor Brands's payout ratio is 47.60%.

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.