Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,890 shares of the company’s stock after selling 81,109 shares during the quarter. Bank of New York Mellon Corp owned 1.06% of Kontoor Brands worth $50,126,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KTB. Sanctuary Advisors LLC purchased a new position in Kontoor Brands in the 3rd quarter valued at about $332,000. Janus Henderson Group PLC grew its stake in Kontoor Brands by 31.4% during the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after purchasing an additional 11,337 shares in the last quarter. Fortitude Family Office LLC increased its holdings in 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. Natixis Advisors LLC raised its position in shares of Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

KTB has been the topic of a number of research analyst reports. Barclays reduced their price objective 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. UBS Group reduced their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One investment 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.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $93.17.

Kontoor Brands Stock Performance

KTB opened at $61.70 on Thursday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The stock has a market cap of $3.41 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The business’s 50 day moving average is $84.17 and its 200-day moving average is $82.92. 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 issued its quarterly 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. The company 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 company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. On average, analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.37%. Kontoor Brands’s dividend payout ratio (DPR) 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.