T. Rowe Price Investment Management Inc. Acquires 10,612 Shares of Kontoor Brands, Inc. (NYSE:KTB)

T. Rowe Price Investment Management Inc. raised its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 4.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 241,800 shares of the company’s stock after acquiring an additional 10,612 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.44% of Kontoor Brands worth $20,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the fourth quarter worth about $29,000. Huntington National Bank boosted its position 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 buying an additional 148 shares during the period. Fortitude Family Office LLC grew its stake in Kontoor Brands by 407.3% in 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. EverSource Wealth Advisors LLC increased its position in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after acquiring an additional 503 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on KTB shares. Wells Fargo & Company reduced their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 10th. UBS Group dropped their target price 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. Finally, Barclays reduced their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Kontoor Brands Price Performance

KTB opened at $61.38 on Friday. The firm has a market capitalization of $3.40 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The business’s 50-day moving average is $63.16 and its two-hundred day moving average is $78.56. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. 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 (NYSE:KTB) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. Research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 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.