Ameriprise Financial Inc. Acquires 142,956 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Ameriprise Financial Inc. increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,355,286 shares of the company's stock after buying an additional 142,956 shares during the period. Ameriprise Financial Inc. owned about 2.46% of Kontoor Brands worth $115,755,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Kontoor Brands by 2.5% in the 4th 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 period. Geode Capital Management LLC lifted its position in shares of Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after purchasing an additional 199,601 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Kontoor Brands by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after purchasing an additional 5,207 shares during the period. Northern Trust Corp lifted its position in shares of Kontoor Brands by 9.8% in the 4th quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock worth $95,973,000 after purchasing an additional 100,397 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Kontoor Brands by 15.5% in the 4th quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock valued at $89,141,000 after acquiring an additional 140,068 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

NYSE KTB traded up $4.38 during trading on Monday, hitting $72.92. 669,280 shares of the company's stock traded hands, compared to its average volume of 539,386. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. 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 business has a 50 day moving average of $60.87 and a 200-day moving average of $77.37.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KTB. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Barclays boosted their price target on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. UBS Group upped their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their target price on shares of Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.80.

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.