Principal Financial Group Inc. Has $17.12 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Principal Financial Group Inc. lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,977 shares of the company's stock after purchasing an additional 5,955 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Kontoor Brands worth $17,121,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. CX Institutional bought a new position in Kontoor Brands in the first quarter valued at approximately $32,000. Huntington National Bank grew its stake in Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc grew its stake in Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares in the last quarter. Finally, Quarry LP grew its stake in Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays raised their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. UBS Group lifted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their target price 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.50.

Kontoor Brands Stock Performance

NYSE:KTB traded down $3.06 during mid-day trading on Friday, hitting $67.45. 663,558 shares of the stock were exchanged, compared to its average volume of 574,295. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. The firm's 50-day simple moving average is $68.46 and its 200 day simple moving average is $71.39. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.08%. Kontoor Brands's payout ratio is currently 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.