First Trust Advisors LP Buys 140,068 Shares of Kontoor Brands, Inc. (NYSE:KTB)

First Trust Advisors LP increased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,043,684 shares of the company's stock after acquiring an additional 140,068 shares during the quarter. First Trust Advisors LP owned about 1.89% of Kontoor Brands worth $89,141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Kontoor Brands in the third quarter worth about $332,000. Principal Financial Group Inc. grew its stake in Kontoor Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after buying an additional 7,445 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after acquiring an additional 334 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after acquiring an additional 35,932 shares during the period. Finally, Level Wealth Management LLC purchased a new position in shares of Kontoor Brands in the fourth quarter valued at $350,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded down $1.07 on Friday, hitting $61.38. 530,084 shares of the company traded hands, compared to its average volume of 538,777. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The firm's 50-day simple moving average is $63.16 and its 200 day simple moving average is $78.57. The company has a market cap of $3.40 billion, a P/E ratio of 13.82, a P/E/G ratio of 2.12 and a beta of 0.93. 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 (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders 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 dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Stifel Nicolaus reduced 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 note on Thursday, April 10th. UBS Group lowered their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Barclays decreased their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average target price 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.