Ensign Peak Advisors Inc Has $2.63 Million Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Ensign Peak Advisors Inc increased its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 33.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,735 shares of the company's stock after purchasing an additional 7,640 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Kontoor Brands worth $2,625,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after purchasing an additional 7,445 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after purchasing an additional 35,932 shares during the period. Level Wealth Management LLC acquired a new position in shares of Kontoor Brands during the 4th quarter valued at $350,000. Barclays PLC increased its position in shares of Kontoor Brands by 316.3% during the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock valued at $8,303,000 after purchasing an additional 77,137 shares during the period. Finally, Vest Financial LLC increased its position in shares of Kontoor Brands by 47.7% during the 4th quarter. Vest Financial LLC now owns 28,252 shares of the company's stock valued at $2,413,000 after purchasing an additional 9,121 shares during the period. Institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays lifted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their target price 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $85.80.

Kontoor Brands Stock Up 0.9%

Shares of Kontoor Brands stock traded up $0.67 during midday trading on Monday, hitting $73.40. The company's stock had a trading volume of 760,103 shares, compared to its average volume of 549,157. The firm has a market capitalization of $4.08 billion, a P/E ratio of 16.53, a PEG ratio of 2.12 and a beta of 1.05. The stock has a 50-day simple moving average of $62.13 and a 200-day simple moving average of $77.17. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year 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 EPS for the quarter, topping the consensus estimate 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%. Kontoor Brands's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, sell-side analysts expect 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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.83%. Kontoor Brands's payout ratio is 50.98%.

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.