Keeley Teton Advisors LLC Sells 29,003 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Keeley Teton Advisors LLC decreased its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,573 shares of the company's stock after selling 29,003 shares during the quarter. Kontoor Brands accounts for approximately 0.9% of Keeley Teton Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Keeley Teton Advisors LLC owned 0.17% of Kontoor Brands worth $7,992,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Kontoor Brands in the third quarter valued at approximately $332,000. Principal Financial Group Inc. lifted its stake in 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 acquiring an additional 7,445 shares in the last quarter. Fortitude Family Office LLC boosted 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 worth $36,000 after acquiring an additional 334 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kontoor Brands by 5.4% in the 4th 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 in the last quarter. Finally, Level Wealth Management LLC purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at about $350,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

KTB has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. UBS Group decreased their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price objective on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Barclays decreased their target price on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kontoor Brands presently has an average rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Stock Performance

Shares of KTB stock traded up $1.34 on Friday, hitting $54.99. 505,736 shares of the stock were exchanged, compared to its average volume of 536,804. The firm's 50 day moving average is $65.49 and its two-hundred day moving average is $79.24. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The firm has a market capitalization of $3.04 billion, a PE ratio of 12.39, 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 earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share 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 firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same quarter last year, the business earned $1.28 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.52 per share. 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 payout ratio is 47.60%.

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.