Nuveen Asset Management LLC Boosts Stake in Kontoor Brands, Inc. (NYSE:KTB)

Nuveen Asset Management LLC boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 429,059 shares of the company's stock after acquiring an additional 110,645 shares during the quarter. Nuveen Asset Management LLC owned about 0.78% of Kontoor Brands worth $36,646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in shares of Kontoor Brands by 2.5% during 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 last quarter. Geode Capital Management LLC lifted its position in Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after buying an additional 199,601 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after buying an additional 142,956 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kontoor Brands by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock valued at $108,252,000 after acquiring an additional 5,207 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of 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 acquiring an additional 100,397 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 1.9%

Shares of KTB traded down $1.36 during mid-day trading on Monday, hitting $69.66. 514,104 shares of the company's stock were exchanged, compared to its average volume of 551,944. 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 company has a market cap of $3.87 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 2.12 and a beta of 1.05. The stock's 50-day moving average is $63.13 and its 200-day moving average is $76.69. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. The company 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 quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KTB shares. 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. Wells Fargo & Company boosted their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. UBS Group raised their price target on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus dropped 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and a consensus target price of $88.00.

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.