Frontier Capital Management Co. LLC Sells 21,159 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Frontier Capital Management Co. LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 425,664 shares of the company's stock after selling 21,159 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.77% of Kontoor Brands worth $36,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Kontoor Brands by 45.8% in the fourth quarter. Deutsche Bank AG now owns 51,419 shares of the company's stock valued at $4,392,000 after acquiring an additional 16,148 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $4,716,000. Centiva Capital LP purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $703,000. Brevan Howard Capital Management LP purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $276,000. Finally, Caxton Associates LP purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $311,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 0.8%

NYSE:KTB traded down $0.56 during mid-day trading on Friday, hitting $68.62. 557,672 shares of the company's stock were exchanged, compared to its average volume of 538,786. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. 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 business has a fifty day moving average price of $60.87 and a 200 day moving average price of $77.37. The company has a market cap of $3.80 billion, a PE ratio of 15.45, 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 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 business had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Kontoor Brands's quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm 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 3.03%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KTB shares. UBS Group boosted their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Barclays boosted their price target on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Stifel Nicolaus reduced their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and an average target price of $84.80.

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.