Royce & Associates LP Lowers Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Royce & Associates LP decreased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,680 shares of the company’s stock after selling 15,430 shares during the quarter. Royce & Associates LP owned approximately 0.21% of Kontoor Brands worth $9,966,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new stake in Kontoor Brands during the 4th quarter valued at $29,000. Fortitude Family Office LLC lifted 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 purchasing an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Kontoor Brands by 229.7% during the fourth 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. GAMMA Investing LLC raised its holdings in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in Kontoor Brands in the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KTB shares. Wells Fargo & Company lowered their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Barclays lowered their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group cut their price target 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Trading Up 1.5 %

Shares of Kontoor Brands stock opened at $63.31 on Tuesday. The firm’s 50 day simple moving average is $80.19 and its two-hundred day simple moving average is $82.31. The firm has a market capitalization 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, Inc. has a 12-month low of $52.95 and a 12-month 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.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate 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 was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is 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.