LPL Financial LLC Raises Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

LPL Financial LLC grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,529 shares of the company's stock after buying an additional 9,076 shares during the quarter. LPL Financial LLC owned 0.06% of Kontoor Brands worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands during the 4th quarter valued at about $29,000. Fortitude Family Office LLC boosted its holdings in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after purchasing an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after purchasing an additional 503 shares during the period. GAMMA Investing LLC raised its stake in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after buying an additional 182 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in Kontoor Brands during the 4th quarter valued at $98,000. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Kontoor Brands stock traded down $0.58 during midday trading on Tuesday, hitting $55.46. The stock had a trading volume of 506,361 shares, compared to its average volume of 535,006. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a market capitalization of $3.07 billion, a PE ratio of 12.49, a P/E/G ratio of 2.12 and a beta of 0.93. The firm's fifty day moving average is $67.92 and its two-hundred day moving average is $79.96.

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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 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company's revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company cut their price objective on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays cut 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. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group cut their target price 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of "Moderate Buy" and a consensus 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.