Kontoor Brands, Inc. (NYSE:KTB) Holdings Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 661,711 shares of the company's stock after selling 74,872 shares during the period. JPMorgan Chase & Co. owned 1.20% of Kontoor Brands worth $54,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company's stock valued at $180,373,000 after purchasing an additional 26,759 shares during the period. Pacer Advisors Inc. grew its holdings in Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company's stock valued at $135,187,000 after purchasing an additional 201,399 shares in the last quarter. Victory Capital Management Inc. increased its stake in Kontoor Brands by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company's stock worth $84,046,000 after buying an additional 12,019 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Kontoor Brands by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company's stock worth $82,707,000 after buying an additional 60,926 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock valued at $98,409,000 after buying an additional 15,058 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kontoor Brands

In related news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the sale, the chief executive officer now owns 331,916 shares of the company's stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded up $1.44 during trading on Friday, reaching $86.48. The stock had a trading volume of 259,620 shares, compared to its average volume of 289,460. 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 stock has a market cap of $4.77 billion, a PE ratio of 19.48, a P/E/G ratio of 2.30 and a beta of 1.20. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $94.82. The firm's 50 day moving average price is $87.90 and its two-hundred day moving average price is $78.08.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were issued a $0.52 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.41%. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50. Kontoor Brands's dividend payout ratio (DPR) is currently 46.85%.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Guggenheim lifted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Stifel Nicolaus cut Kontoor Brands from a "buy" rating to a "hold" rating and increased their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group raised their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Barclays upped their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Kontoor Brands has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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.