Fmr LLC Decreases Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

FMR LLC trimmed its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,713,028 shares of the company's stock after selling 307,051 shares during the period. FMR LLC owned 4.92% of Kontoor Brands worth $231,720,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands during the fourth quarter worth approximately $29,000. Huntington National Bank boosted its stake in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC grew its holdings in Kontoor Brands by 407.3% in the 4th 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. EverSource Wealth Advisors LLC lifted its holdings in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after buying an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after acquiring an additional 182 shares during the period. Institutional investors own 93.06% of the company's stock.

Analyst Ratings Changes

KTB has been the topic of a number of analyst reports. Barclays reduced their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. UBS Group cut their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Stifel Nicolaus decreased 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. Finally, Wells Fargo & Company reduced their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. 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 data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and an average target price of $88.00.

Remove Ads

Kontoor Brands Stock Performance

NYSE:KTB traded down $1.77 during trading hours on Wednesday, reaching $53.65. The stock had a trading volume of 308,896 shares, compared to its average volume of 535,370. 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 $2.97 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The stock has a 50 day simple moving average of $67.27 and a 200 day simple moving average of $79.79.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million during 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%. Kontoor Brands's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Monday, March 10th. Kontoor Brands's payout ratio is currently 47.60%.

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.