Kontoor Brands, Inc. (NYSE:KTB) Stock Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 818,049 shares of the company's stock after selling 412,367 shares during the quarter. Victory Capital Management Inc. owned approximately 1.48% of Kontoor Brands worth $69,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp grew its holdings in Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after acquiring an additional 26,759 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after purchasing an additional 44,287 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Kontoor Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock worth $98,409,000 after purchasing an additional 15,058 shares during the last quarter. Jennison Associates LLC increased its holdings in Kontoor Brands by 4.6% in the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after buying an additional 34,652 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $59,559,000 after buying an additional 35,932 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Remove Ads

Kontoor Brands Stock Performance

NYSE KTB traded down $0.63 during trading hours on Monday, hitting $59.32. The company had a trading volume of 725,642 shares, compared to its average volume of 682,521. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The firm has a market cap of $3.28 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business has a fifty day simple moving average of $83.17 and a 200-day simple moving average of $82.84.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analysts' expectations 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 for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.51%. Kontoor Brands's payout ratio is 47.60%.

Analysts Set New Price Targets

Several research analysts have recently commented on KTB shares. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Barclays reduced their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.17.

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.