Deutsche Bank AG Acquires 16,148 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Deutsche Bank AG boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 45.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,419 shares of the company's stock after purchasing an additional 16,148 shares during the quarter. Deutsche Bank AG owned about 0.09% of Kontoor Brands worth $4,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after purchasing an additional 7,445 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Kontoor Brands by 5.4% during the 4th 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. Level Wealth Management LLC purchased a new position in Kontoor Brands during the 4th quarter valued at approximately $350,000. Barclays PLC grew its holdings in Kontoor Brands by 316.3% during 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 in the last quarter. Finally, Vest Financial LLC grew its holdings in Kontoor Brands by 47.7% during the 4th quarter. Vest Financial LLC now owns 28,252 shares of the company's stock valued at $2,413,000 after buying an additional 9,121 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KTB. Wells Fargo & Company raised their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Barclays lifted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus dropped their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, UBS Group lifted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.80.

Kontoor Brands Trading Up 0.9%

Shares of NYSE KTB opened at $73.40 on Tuesday. 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 $62.38 and a two-hundred day simple moving average of $77.11. The firm has a market cap of $4.08 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. Analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 2.83%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's 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.

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