Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 586,890 shares of the company's stock after selling 81,109 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of Kontoor Brands worth $50,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of Kontoor Brands by 73.2% during the third quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock worth $61,942,000 after buying an additional 320,117 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Kontoor Brands during the third quarter worth $8,479,000. Barclays PLC grew its holdings in shares of Kontoor Brands by 316.3% during the third 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. LMR Partners LLP purchased a new stake in shares of Kontoor Brands during the third quarter worth $4,799,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Kontoor Brands by 2.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Down 1.2 %

Shares of KTB traded down $0.76 during mid-day trading on Friday, reaching $60.41. The stock had a trading volume of 686,413 shares, compared to its average volume of 681,541. 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 52-week low of $52.95 and a 52-week high of $96.80. The business's fifty day moving average is $83.17 and its 200 day moving average is $82.76. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 1.23.

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

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.44%. Kontoor Brands's payout ratio is currently 47.60%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KTB. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. UBS Group dropped their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and a consensus price target of $93.17.

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.