Vest Financial LLC Has $2.80 Million Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Vest Financial LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 54.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,670 shares of the company's stock after acquiring an additional 15,418 shares during the quarter. Vest Financial LLC owned about 0.08% of Kontoor Brands worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after acquiring an additional 199,601 shares in the last quarter. Ameriprise Financial Inc. increased its position in Kontoor Brands by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock valued at $115,755,000 after acquiring an additional 142,956 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Kontoor Brands by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock valued at $108,252,000 after acquiring an additional 5,207 shares in the last quarter. Northern Trust Corp increased its position in Kontoor Brands by 9.8% in the 4th quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock valued at $95,973,000 after acquiring an additional 100,397 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Kontoor Brands by 15.5% in the 4th quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock valued at $89,141,000 after acquiring an additional 140,068 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Analysts Set New Price Targets

KTB has been the subject of several research reports. Barclays raised their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. UBS Group lifted their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Kontoor Brands Stock Up 1.7%

Shares of NYSE:KTB opened at $69.28 on Friday. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a 50 day moving average of $64.11 and a 200-day moving average of $75.41. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 2.12 and a beta of 1.05.

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 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 quarter in the previous year, the company earned $1.16 EPS. Kontoor Brands's 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 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is 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.

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