Wellington Management Group LLP Cuts Stake in Kontoor Brands, Inc. (NYSE:KTB)

Wellington Management Group LLP lessened its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 67.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,995 shares of the company's stock after selling 390,846 shares during the period. Wellington Management Group LLP owned 0.34% of Kontoor Brands worth $15,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KTB. Schroder Investment Management Group purchased a new position in shares of Kontoor Brands during the 4th quarter worth approximately $7,512,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Kontoor Brands by 130.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,979 shares of the company's stock valued at $2,561,000 after buying an additional 16,974 shares in the last quarter. Norges Bank purchased a new stake in Kontoor Brands in the fourth quarter worth about $17,630,000. Homestead Advisers Corp purchased a new stake in shares of Kontoor Brands in the fourth quarter worth $1,947,000. Finally, JPMorgan Chase & Co. raised its position in shares of Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of KTB traded down $0.23 during trading hours on Monday, reaching $57.11. 32,786 shares of the stock traded hands, compared to its average volume of 757,186. 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's 50-day moving average price is $68.56 and its two-hundred day moving average price is $80.15. The company has a market cap of $3.16 billion, a P/E ratio of 12.90, 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.

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Kontoor Brands (NYSE:KTB - Get Free Report) last announced 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 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%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 earnings per share. On average, analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.64%. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday. UBS Group dropped their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Barclays dropped their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

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.