Wells Fargo & Company MN Purchases 13,276 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Wells Fargo & Company MN grew its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 44.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,379 shares of the company's stock after buying an additional 13,276 shares during the quarter. Wells Fargo & Company MN owned 0.08% of Kontoor Brands worth $3,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. Geode Capital Management LLC increased its position in Kontoor Brands by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after purchasing an additional 199,601 shares in the last quarter. JPMorgan Chase & Co. increased its position in Kontoor Brands by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after purchasing an additional 188,001 shares in the last quarter. Jennison Associates LLC increased its position in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock worth $67,651,000 after purchasing an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after purchasing an additional 35,932 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Trading Down 0.9 %

KTB traded down $0.53 during trading on Monday, reaching $60.94. 552,478 shares of the company's stock were exchanged, compared to its average volume of 538,186. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. 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 stock has a market capitalization of $3.37 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The firm has a fifty day moving average price of $62.59 and a two-hundred day moving average price of $78.41.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $698.07 million. During the same period in the previous year, the firm posted $1.28 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating for the company in a research report on Monday. Stifel Nicolaus lowered their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. UBS Group lowered their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kontoor Brands presently has an average rating of "Moderate Buy" and a consensus price target of $84.00.

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.