Royce & Associates LP Trims Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Royce & Associates LP trimmed its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,680 shares of the company’s stock after selling 15,430 shares during the quarter. Royce & Associates LP’s holdings in Kontoor Brands were worth $9,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in shares of Kontoor Brands by 1.5% in the fourth quarter. Natixis Advisors LLC now owns 17,640 shares of the company’s stock worth $1,507,000 after buying an additional 257 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Kontoor Brands by 23.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,933 shares of the company’s stock worth $1,275,000 after purchasing an additional 2,832 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Kontoor Brands by 67.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after purchasing an additional 116,000 shares in the last quarter. Swiss National Bank grew its stake in shares of Kontoor Brands by 0.5% during the 4th quarter. Swiss National Bank now owns 98,614 shares of the company’s stock worth $8,423,000 after purchasing an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after purchasing an additional 503 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 1.5 %

KTB stock opened at $63.31 on Tuesday. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The business’s 50-day moving average is $80.19 and its 200 day moving average is $82.31. 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 cap of $3.50 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last issued its quarterly 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. The firm 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%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

Analysts Set New Price Targets

Several analysts recently commented on KTB shares. 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. UBS Group dropped their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

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.