Vanguard Group Inc. Reduces Stake in Kontoor Brands, Inc. (NYSE:KTB)

Vanguard Group Inc. trimmed its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,315,913 shares of the company's stock after selling 53,452 shares during the quarter. Vanguard Group Inc. owned approximately 11.45% of Kontoor Brands worth $539,442,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Citigroup Inc. lifted its stake in Kontoor Brands by 76.5% in the 3rd quarter. Citigroup Inc. now owns 70,738 shares of the company's stock worth $5,785,000 after purchasing an additional 30,650 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Kontoor Brands by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,225 shares of the company's stock worth $9,668,000 after purchasing an additional 3,044 shares during the period. ClearAlpha Technologies LP purchased a new stake in shares of Kontoor Brands in the third quarter worth $287,000. HighTower Advisors LLC boosted its stake in Kontoor Brands by 35.6% during the third quarter. HighTower Advisors LLC now owns 6,097 shares of the company's stock valued at $497,000 after buying an additional 1,602 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock valued at $3,883,000 after buying an additional 11,337 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KTB. Barclays decreased their target price 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. Wells Fargo & Company decreased 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 report on Thursday, March 13th. Finally, UBS Group dropped 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Kontoor Brands Trading Down 0.3 %

Kontoor Brands stock traded down $0.17 during mid-day trading on Friday, hitting $57.72. The company's stock had a trading volume of 1,287,896 shares, compared to its average volume of 522,528. The business has a 50 day moving average price of $73.49 and a 200-day moving average price of $81.24. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth 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.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the previous year, the company posted $1.28 EPS. Kontoor Brands's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.60%. 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.