D.A. Davidson & CO. Reduces Holdings in Kontoor Brands, Inc. (NYSE:KTB)

D.A. Davidson & CO. trimmed its stake in Kontoor Brands, Inc. (NYSE:KTB) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 17,460 shares of the company’s stock after selling 366 shares during the quarter. D.A. Davidson & CO.’s holdings in Kontoor Brands were worth $1,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KTB. Jennison Associates LLC lifted its position in shares of Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after purchasing an additional 320,117 shares during the period. Walleye Capital LLC purchased a new stake in shares of Kontoor Brands in the 3rd quarter worth about $8,479,000. Barclays PLC lifted its position in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after purchasing an additional 77,137 shares during the period. LMR Partners LLP purchased a new stake in shares of Kontoor Brands in the 3rd quarter worth about $4,799,000. Finally, Pacer Advisors Inc. lifted its position in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after purchasing an additional 44,287 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KTB has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group lowered their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim lifted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Stock Down 1.7 %

NYSE:KTB opened at $88.01 on Friday. The firm has a market cap of $4.85 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The firm has a 50-day simple moving average of $87.12 and a two-hundred day simple moving average of $82.91.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.36%. Kontoor Brands’s dividend payout ratio is currently 46.85%.

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.