Invesco Ltd. Grows Position in Kontoor Brands, Inc. (NYSE:KTB)

Invesco Ltd. increased its position in Kontoor Brands, Inc. (NYSE:KTB) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 868,117 shares of the company’s stock after buying an additional 81,321 shares during the quarter. Invesco Ltd.’s holdings in Kontoor Brands were worth $74,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KTB. HHM Wealth Advisors LLC bought a new stake in Kontoor Brands in the 4th quarter worth $29,000. Huntington National Bank boosted its holdings in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC grew its stake in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in 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 during the period. Finally, GAMMA Investing LLC raised its position in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $55.95 on Tuesday. 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 business has a fifty day simple moving average of $67.92 and a two-hundred day simple moving average of $79.96. The firm has a market capitalization of $3.10 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million during 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 firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. On average, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.72%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KTB shares. UBS Group cut their price objective 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. Stifel Nicolaus reduced their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.