Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Vest Financial LLC

Vest Financial LLC increased its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 54.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,670 shares of the company's stock after acquiring an additional 15,418 shares during the quarter. Vest Financial LLC owned approximately 0.08% of Kontoor Brands worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KTB. Huntington National Bank increased its holdings in shares of 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 during the period. Versant Capital Management Inc grew its holdings 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 during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 buying an additional 503 shares in the last quarter. Quarry LP increased its holdings in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after acquiring an additional 450 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Up 0.1%

NYSE:KTB traded up $0.05 on Tuesday, hitting $68.32. 722,904 shares of the stock were exchanged, compared to its average volume of 557,574. The stock has a fifty day moving average of $64.34 and a 200-day moving average of $75.03. The stock has a market cap of $3.80 billion, a PE ratio of 15.39, a PEG ratio of 2.12 and a beta of 1.16. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. 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 issued its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 73.99% and a net margin of 9.72%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, equities analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.04%. 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

A number of equities analysts have recently weighed in on KTB shares. UBS Group boosted their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays lifted their price objective on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group initiated coverage on Kontoor Brands in a research note on Tuesday. They issued a "buy" rating and a $85.00 target price for the company. Finally, 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 research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $87.50.

About Kontoor Brands

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.