Geode Capital Management LLC Has $119.83 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Geode Capital Management LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 16.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,402,701 shares of the company's stock after acquiring an additional 199,601 shares during the period. Geode Capital Management LLC owned about 2.54% of Kontoor Brands worth $119,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC lifted its stake in Kontoor Brands by 35.6% in the third quarter. HighTower Advisors LLC now owns 6,097 shares of the company's stock valued at $497,000 after buying an additional 1,602 shares during the last quarter. Janus Henderson Group PLC grew its position in Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock worth $3,883,000 after purchasing an additional 11,337 shares during the last quarter. State Street Corp increased its stake in shares of Kontoor Brands by 1.2% in 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. Y Intercept Hong Kong Ltd boosted its position in shares of Kontoor Brands by 156.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,652 shares of the company's stock worth $1,035,000 after buying an additional 7,715 shares during the period. Finally, Barclays PLC grew its holdings in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after buying an additional 77,137 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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Kontoor Brands Trading Down 1.1 %

KTB stock traded down $0.64 during mid-day trading on Monday, reaching $56.70. 47,282 shares of the stock traded hands, compared to its average volume of 532,898. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The stock's fifty day moving average is $68.56 and its 200-day moving average is $80.15. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market cap of $3.14 billion, a P/E ratio of 12.77, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued 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 analysts' expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company reduced 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. Stifel Nicolaus dropped their price target 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. UBS Group lowered their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Barclays decreased their price target 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.