Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Kontoor Brands, Inc. (NYSE:KTB) by 67.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 186,995 shares of the company’s stock after selling 390,846 shares during the quarter. Wellington Management Group LLP owned 0.34% of Kontoor Brands worth $15,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KTB. State Street Corp grew its holdings in shares of Kontoor Brands by 1.2% in the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after purchasing an additional 26,759 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after acquiring an additional 44,287 shares during the period. Geode Capital Management LLC raised its stake in shares of Kontoor Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after acquiring an additional 15,058 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Kontoor Brands by 28.4% in 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 in the last quarter. Finally, Jennison Associates LLC grew its stake 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. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KTB. Barclays lowered their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target 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, UBS Group reduced their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Stock Down 6.9 %

Shares of NYSE KTB opened at $52.20 on Wednesday. The business has a 50-day moving average price of $71.15 and a 200 day moving average price of $80.73. The stock has a market cap of $2.89 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 52-week low of $51.75 and a 52-week high of $96.80.

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

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Monday, March 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.