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

ProShare Advisors LLC lifted its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 43.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $119,827,000 after purchasing an additional 199,601 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 last quarter. Finally, Northern Trust Corp lifted its holdings in Kontoor Brands by 9.8% during the 4th quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock valued at $95,973,000 after purchasing an additional 100,397 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Price Performance

Shares of NYSE KTB traded down $1.36 during mid-day trading on Friday, reaching $69.66. The company had a trading volume of 514,104 shares, 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. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 2.12 and a beta of 1.05. The business's 50-day simple moving average is $63.13 and its 200 day simple moving average is $76.85.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results 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 return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $622.90 million for the quarter, compared to analysts' expectations of $625.44 million. During the same quarter last year, the business earned $1.16 earnings per share. Kontoor Brands's revenue was down 1.3% on a year-over-year basis. On average, research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is currently 50.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday. UBS Group lifted 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. 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 report on Wednesday, May 14th. Finally, Stifel Nicolaus dropped 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the 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.