T. Rowe Price Investment Management Inc. Buys 10,612 Shares of Kontoor Brands, Inc. (NYSE:KTB)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,800 shares of the company's stock after purchasing an additional 10,612 shares during the period. T. Rowe Price Investment Management Inc. owned 0.44% of Kontoor Brands worth $20,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KTB. Barclays PLC raised its stake in shares of Kontoor Brands by 316.3% during the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after purchasing an additional 77,137 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Kontoor Brands in the 3rd quarter valued at $332,000. Synovus Financial Corp bought a new stake in Kontoor Brands in the 3rd quarter valued at $220,000. GAMMA Investing LLC raised its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after acquiring an additional 182 shares during the period. Finally, Fortitude Family Office LLC raised its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after acquiring an additional 334 shares during the period. Institutional investors own 93.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KTB. Stifel Nicolaus dropped their price target 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. Wells Fargo & Company dropped their price target on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. UBS Group dropped their price target 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. Finally, Barclays lowered their price objective on Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.00.

Kontoor Brands Stock Performance

KTB stock traded down $0.20 during trading hours on Tuesday, hitting $60.75. 442,216 shares of the stock were exchanged, compared to its average volume of 537,400. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $3.36 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a 50-day simple moving average of $62.59 and a two-hundred day simple moving average of $78.41. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month 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 the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. On average, analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) 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.