Wells Fargo & Company MN Buys 13,276 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Wells Fargo & Company MN increased its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,379 shares of the company's stock after purchasing an additional 13,276 shares during the period. Wells Fargo & Company MN owned approximately 0.08% of Kontoor Brands worth $3,705,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock valued at $8,303,000 after buying an additional 77,137 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Kontoor Brands in the third quarter valued at approximately $332,000. Synovus Financial Corp acquired a new stake in shares of Kontoor Brands in the third quarter worth $220,000. GAMMA Investing LLC increased its position in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after acquiring an additional 182 shares during the period. Finally, Fortitude Family Office LLC raised its stake in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

KTB has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. Barclays decreased their price objective 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, Stifel Nicolaus cut their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Kontoor Brands Price Performance

Shares of KTB stock traded down $1.07 during trading hours on Friday, hitting $61.38. The company had a trading volume of 530,084 shares, compared to its average volume of 538,776. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The firm's fifty day moving average is $63.64 and its 200 day moving average is $78.70.

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 (EPS) 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 firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same period in the prior year, the company posted $1.28 earnings per share. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.39%. Kontoor Brands's dividend payout ratio (DPR) is presently 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.