Invesco Ltd. Raises Stake in Kontoor Brands, Inc. (NYSE:KTB)

Invesco Ltd. boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 868,117 shares of the company’s stock after purchasing an additional 81,321 shares during the quarter. Invesco Ltd. owned approximately 1.57% of Kontoor Brands worth $74,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KTB. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the fourth quarter valued at approximately $29,000. Huntington National Bank boosted its holdings in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC grew its position 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 valued at $36,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Kontoor Brands by 229.7% during the 4th 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. Finally, GAMMA Investing LLC increased its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

NYSE:KTB opened at $55.95 on Tuesday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.12 and a beta of 0.93. The business has a 50 day moving average of $67.92 and a 200 day moving average of $79.96. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping 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 firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm posted $1.28 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.72%. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stifel Nicolaus reduced their target price on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. UBS Group cut their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Barclays cut their price target 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.