LPL Financial LLC Has $2.95 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

LPL Financial LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,529 shares of the company's stock after acquiring an additional 9,076 shares during the period. LPL Financial LLC owned 0.06% of Kontoor Brands worth $2,949,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of Kontoor Brands by 35.6% in the 3rd quarter. HighTower Advisors LLC now owns 6,097 shares of the company's stock worth $497,000 after acquiring an additional 1,602 shares during the period. Barclays PLC grew its holdings in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after buying an additional 77,137 shares in the last quarter. Geode Capital Management LLC increased its position in Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock valued at $98,409,000 after acquiring an additional 15,058 shares during the period. TD Private Client Wealth LLC raised its stake in Kontoor Brands by 35.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,594 shares of the company's stock valued at $130,000 after acquiring an additional 419 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Kontoor Brands during the 3rd quarter worth $332,000. 93.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Kontoor Brands Stock Up 0.8 %

Shares of KTB traded up $0.41 during trading hours on Thursday, reaching $54.06. The company's stock had a trading volume of 62,982 shares, compared to its average volume of 748,175. The company has a 50 day moving average of $66.63 and a two-hundred day moving average of $79.61. 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 firm has a market cap of $2.99 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 2.12 and a beta of 0.93. 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 released its 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 quarter in the prior year, the firm earned $1.28 EPS. The company's revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

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.