ProShare Advisors LLC Has $1.41 Million Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

ProShare Advisors LLC increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 43.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,485 shares of the company's stock after buying an additional 4,980 shares during the quarter. ProShare Advisors LLC's holdings in Kontoor Brands were worth $1,408,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KTB. Marshall Wace LLP raised its stake in Kontoor Brands by 97.3% during the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock worth $49,524,000 after buying an additional 285,897 shares during the period. Man Group plc raised its stake in Kontoor Brands by 119.1% during the 4th quarter. Man Group plc now owns 466,065 shares of the company's stock worth $39,807,000 after buying an additional 253,360 shares during the period. Norges Bank acquired a new stake in Kontoor Brands during the 4th quarter worth $17,630,000. Geode Capital Management LLC increased its holdings in Kontoor Brands by 16.6% during 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Kontoor Brands by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Stock Up 1.6%

Shares of Kontoor Brands stock traded up $1.13 during trading hours on Tuesday, reaching $70.75. 113,164 shares of the company's stock were exchanged, compared to its average volume of 550,274. The company has a 50 day moving average of $63.25 and a two-hundred day moving average of $76.55. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The stock has a market cap of $3.93 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.12 and a beta of 1.05.

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. 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 the consensus estimate of $625.44 million. During the same period in the prior year, the business posted $1.16 EPS. The company's quarterly revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.94%. Kontoor Brands's dividend payout ratio is 50.98%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Barclays increased their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. UBS Group increased 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. Finally, Stifel Nicolaus lowered 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Company 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.