Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 874,849 shares of the company's stock after selling 222,387 shares during the period. Jennison Associates LLC owned approximately 1.56% of Kontoor Brands worth $54,608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Kontoor Brands during the fourth quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC grew its position in Kontoor Brands by 5,710.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 571 shares during the last quarter. Ronald Blue Trust Inc. grew its position in Kontoor Brands by 225.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company's stock valued at $46,000 after acquiring an additional 761 shares during the last quarter. Oakworth Capital Inc. grew its position in Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company's stock valued at $49,000 after acquiring an additional 478 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Kontoor Brands by 121.4% during the third quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company's stock valued at $57,000 after acquiring an additional 715 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Trading Up 2.7 %

KTB stock traded up $1.64 on Wednesday, reaching $61.87. The company's stock had a trading volume of 659,294 shares, compared to its average volume of 552,818. The business has a fifty day simple moving average of $59.02 and a two-hundred day simple moving average of $56.31. Kontoor Brands, Inc. has a 12-month low of $37.10 and a 12-month high of $64.49. The firm has a market cap of $3.45 billion, a PE ratio of 15.24, a PEG ratio of 1.52 and a beta of 1.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The business had revenue of $669.80 million during the quarter, compared to analysts' expectations of $720.70 million. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, June 10th. Kontoor Brands's dividend payout ratio is currently 49.26%.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price target on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. UBS Group increased their price objective on Kontoor Brands from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Edward Jones lowered Kontoor Brands from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. Finally, Barclays dropped their price objective on Kontoor Brands from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. One 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.40.

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.