Allworth Financial LP Has $521,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Allworth Financial LP lifted its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 192.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,344 shares of the company's stock after acquiring an additional 5,493 shares during the period. Allworth Financial LP's holdings in Kontoor Brands were worth $521,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KTB. CX Institutional bought a new position in shares of Kontoor Brands during the 1st quarter valued at $32,000. Huntington National Bank raised its holdings in shares of Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KTB has been the subject of several recent analyst reports. The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays upped their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Kontoor Brands Stock Performance

NYSE:KTB traded down $0.28 during trading hours on Friday, hitting $64.62. 161,803 shares of the company traded hands, compared to its average volume of 574,778. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.55 and a beta of 1.12. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The firm has a 50-day moving average of $68.37 and a 200 day moving average of $70.92. The company has a current ratio of 2.78, a quick ratio of 1.65 and a debt-to-equity ratio of 1.72.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, June 10th. Kontoor Brands's dividend payout ratio is 50.98%.

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.