Charles Schwab Investment Management Inc. Has $59.56 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

Charles Schwab Investment Management Inc. grew its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,326 shares of the company’s stock after purchasing an additional 35,932 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.26% of Kontoor Brands worth $59,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. 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 acquiring an additional 26,759 shares in the last quarter. Pacer Advisors Inc. increased its stake in Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after acquiring an additional 44,287 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 during the last quarter. Jennison Associates LLC increased its stake in Kontoor Brands by 4.6% in the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock valued at $67,651,000 after acquiring an additional 34,652 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Kontoor Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 1.6 %

Shares of KTB stock opened at $61.01 on Thursday. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a market capitalization of $3.38 billion, a PE ratio of 13.74, a PEG ratio of 2.12 and a beta of 1.23. The stock has a fifty day simple moving average of $81.66 and a two-hundred day simple moving average of $82.51.

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

Kontoor Brands Announces Dividend

The business also recently announced 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Analyst Ratings Changes

KTB has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. UBS Group lowered 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. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

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.