Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Jennison Associates LLC

Jennison Associates LLC boosted its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 876,666 shares of the company's stock after buying an additional 84,588 shares during the quarter. Jennison Associates LLC owned approximately 1.58% of Kontoor Brands worth $56,221,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings 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 last quarter. Ameriprise Financial Inc. boosted its stake in Kontoor Brands by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock valued at $115,755,000 after purchasing an additional 142,956 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kontoor Brands by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock valued at $108,252,000 after purchasing an additional 5,207 shares during the period. Northern Trust Corp boosted its stake in Kontoor Brands by 9.8% during the fourth quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock valued at $95,973,000 after buying an additional 100,397 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Kontoor Brands by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock valued at $89,141,000 after purchasing an additional 140,068 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Down 1.2%

Shares of KTB stock opened at $64.15 on Friday. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a market cap of $3.56 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.12. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. The business's 50 day moving average is $68.28 and its two-hundred day moving average is $70.78.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The business had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands's payout ratio is presently 50.98%.

Analyst Ratings Changes

Several analysts have issued reports on KTB shares. UBS Group boosted their price objective on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays lifted their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Stifel Nicolaus reduced their price objective 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. Finally, Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and an average target price of $87.50.

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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