Kontoor Brands, Inc. (NYSE:KTB) Stake Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,267,431 shares of the company’s stock after acquiring an additional 5,207 shares during the quarter. Dimensional Fund Advisors LP owned about 2.30% of Kontoor Brands worth $108,252,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Kontoor Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after purchasing an additional 7,445 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after acquiring an additional 35,932 shares during the last quarter. Level Wealth Management LLC purchased a new stake in shares of Kontoor Brands during the fourth quarter valued at $350,000. Finally, Barclays PLC boosted its position in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KTB has been the topic of several recent analyst reports. Barclays cut their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus decreased 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 note on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group reduced their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Kontoor Brands Trading Down 1.7 %

Shares of NYSE:KTB opened at $61.38 on Monday. The firm has a fifty day moving average of $63.16 and a two-hundred day moving average of $78.56. 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 12-month low of $50.00 and a 12-month high of $96.80. The firm has a market capitalization of $3.40 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the company posted $1.28 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio is 47.60%.

Kontoor Brands 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.