Kontoor Brands, Inc. (NYSE:KTB) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 67.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,995 shares of the company's stock after selling 390,846 shares during the quarter. Wellington Management Group LLP owned approximately 0.34% of Kontoor Brands worth $15,971,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Kontoor Brands by 17.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,297 shares of the company's stock worth $367,000 after purchasing an additional 651 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of Kontoor Brands by 1.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 36,798 shares of the company's stock worth $3,143,000 after purchasing an additional 588 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Kontoor Brands by 2.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 84,679 shares of the company's stock worth $7,232,000 after purchasing an additional 1,679 shares during the last quarter. Vise Technologies Inc. grew its holdings in shares of Kontoor Brands by 16.5% during the fourth quarter. Vise Technologies Inc. now owns 3,777 shares of the company's stock worth $323,000 after purchasing an additional 535 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new position in shares of Kontoor Brands during the fourth quarter worth about $249,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Up 0.6%

KTB stock traded up $0.43 during midday trading on Thursday, hitting $68.07. The stock had a trading volume of 494,469 shares, compared to its average volume of 554,925. The firm has a market cap of $3.78 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The company's 50-day moving average price is $63.94 and its 200 day moving average price is $75.71.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. During the same period in the previous year, the company earned $1.16 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.06%. Kontoor Brands's dividend payout ratio (DPR) is 50.98%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KTB. Wells Fargo & Company raised their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a 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 report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Barclays raised their price target on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.