Price T Rowe Associates Inc. MD Buys 4,192 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Price T Rowe Associates Inc. MD boosted its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,298 shares of the company's stock after purchasing an additional 4,192 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.13% of Kontoor Brands worth $6,091,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KTB. Marshall Wace LLP grew its stake in shares of Kontoor Brands by 97.3% during the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after acquiring an additional 285,897 shares during the period. Norges Bank bought a new position in Kontoor Brands in the 4th quarter worth $17,630,000. Geode Capital Management LLC increased its stake in Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after buying an additional 199,601 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock valued at $72,574,000 after acquiring an additional 188,001 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Kontoor Brands by 15.5% in the fourth quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock valued at $89,141,000 after acquiring an additional 140,068 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KTB shares. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday. Barclays reduced their price objective on shares of Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Stifel Nicolaus cut their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.40.

Kontoor Brands Stock Up 5.2 %

NYSE:KTB opened at $63.42 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a 50-day moving average of $60.73 and a 200 day moving average of $77.85. The firm has a market cap of $3.51 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

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

Kontoor Brands Dividend Announcement

The business 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. This represents a $2.08 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is currently 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.

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