Royce & Associates LP Decreases Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Royce & Associates LP decreased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,680 shares of the company's stock after selling 15,430 shares during the quarter. Royce & Associates LP owned about 0.21% of Kontoor Brands worth $9,966,000 as of its most recent filing with the Securities & Exchange Commission.

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

Kontoor Brands Stock Up 1.2 %

Shares of KTB stock traded up $0.76 during trading hours on Friday, reaching $63.68. The company had a trading volume of 2,416,035 shares, compared to its average volume of 495,375. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. 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 12 month low of $52.95 and a 12 month high of $96.80. The business has a fifty day simple moving average of $78.70 and a 200-day simple moving average of $81.96.

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Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating 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 last year, the business earned $1.28 EPS. The business's revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's payout ratio is 47.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on KTB shares. UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Barclays cut their target price on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

About Kontoor Brands

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.