Invesco Ltd. Buys 81,321 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Invesco Ltd. increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 868,117 shares of the company's stock after purchasing an additional 81,321 shares during the period. Invesco Ltd. owned about 1.57% of Kontoor Brands worth $74,146,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in shares of Kontoor Brands by 5.6% in the fourth quarter. Bank of Montreal Can now owns 9,646 shares of the company's stock valued at $824,000 after buying an additional 514 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in Kontoor Brands during the 4th quarter worth approximately $391,000. Quadrant Capital Group LLC lifted its position in Kontoor Brands by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock valued at $101,000 after acquiring an additional 145 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Kontoor Brands by 44.1% during the fourth quarter. Wells Fargo & Company MN now owns 43,379 shares of the company's stock worth $3,705,000 after buying an additional 13,276 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Kontoor Brands in the fourth quarter valued at approximately $1,301,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Trading Up 2.5 %

Shares of KTB traded up $1.34 during trading hours on Friday, hitting $54.99. The company had a trading volume of 505,736 shares, compared to its average volume of 536,626. The firm has a market cap of $3.04 billion, a P/E ratio of 12.39, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock's 50 day moving average price is $65.49 and its 200 day moving average price is $79.24. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period in the prior year, the firm earned $1.28 earnings per share. Kontoor Brands's revenue was up 4.4% on a year-over-year basis. On average, research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.78%. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KTB shares. Wells Fargo & Company decreased their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. 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. Finally, Stifel Nicolaus reduced their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.