Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 849,712 shares of the company's stock after purchasing an additional 188,001 shares during the period. JPMorgan Chase & Co. owned about 1.54% of Kontoor Brands worth $72,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of KTB. State Street Corp increased its position 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 buying an additional 26,759 shares in the last quarter. Pacer Advisors Inc. grew its stake in Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after acquiring an additional 44,287 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $98,409,000 after acquiring an additional 15,058 shares in the last quarter. Jennison Associates LLC increased its holdings in Kontoor Brands by 4.6% in the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock worth $67,651,000 after acquiring an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Kontoor Brands by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after acquiring an additional 35,932 shares during the period. Institutional investors and hedge funds own 93.06% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KTB. 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 research report on Friday, February 28th. Wells Fargo & Company lowered their price objective on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays cut their price objective 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Kontoor Brands Price Performance

KTB traded down $3.88 on Tuesday, reaching $52.20. 1,235,491 shares of the company's stock were exchanged, compared to its average volume of 529,577. Kontoor Brands, Inc. has a twelve month low of $51.75 and a twelve month high of $96.80. The stock has a market cap of $2.89 billion, a PE ratio of 11.76, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock's fifty day moving average price is $71.15 and its 200-day moving average price is $80.73.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to analysts' expectations of $698.07 million. During the same period in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.98%. Kontoor Brands's dividend payout ratio (DPR) is 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.