AMG National Trust Bank Sells 56,370 Shares of Kontoor Brands, Inc. (NYSE:KTB)

AMG National Trust Bank cut its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,613 shares of the company's stock after selling 56,370 shares during the quarter. AMG National Trust Bank owned about 0.25% of Kontoor Brands worth $8,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional bought a new position in Kontoor Brands during the first quarter worth $32,000. Huntington National Bank boosted its stake in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc boosted its stake in Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $42,000 after acquiring an additional 207 shares in the last quarter. Quarry LP boosted its stake in Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after acquiring an additional 450 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Kontoor Brands by 23.4% in the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after buying an additional 274 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kontoor Brands Stock Performance

Shares of KTB traded down $0.75 during trading hours on Friday, hitting $64.15. The company's stock had a trading volume of 543,138 shares, compared to its average volume of 578,008. The business has a 50 day simple moving average of $68.28 and a two-hundred day simple moving average of $70.68. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.47 and a beta of 1.12. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued 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 company 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%. Kontoor Brands's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. On average, equities analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.24%. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

Kontoor Brands Company 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.