American Trust bought a new stake in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) during the first quarter, according to its most recent filing with the SEC. The firm bought 5,515 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. Cullen Capital Management LLC acquired a new position in Kontoor Brands in the 1st quarter valued at $8,238,000. JPMorgan Chase & Co. grew its stake in Kontoor Brands by 49.4% in the 4th quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company's stock valued at $41,577,000 after buying an additional 268,201 shares during the last quarter. Victory Capital Management Inc. grew its stake in Kontoor Brands by 2,368.4% in the 1st quarter. Victory Capital Management Inc. now owns 212,847 shares of the company's stock valued at $8,456,000 after buying an additional 204,224 shares during the last quarter. Vanguard Group Inc. grew its stake in Kontoor Brands by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,713,342 shares of the company's stock valued at $236,247,000 after buying an additional 88,296 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in Kontoor Brands by 26.5% in the 1st quarter. AMG National Trust Bank now owns 331,475 shares of the company's stock valued at $13,707,000 after buying an additional 69,467 shares during the last quarter. 99.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Kontoor Brands from $45.00 to $38.00 in a research report on Wednesday, July 20th. William Blair lowered shares of Kontoor Brands to a "hold" rating and set a $43.00 price target on the stock. in a research report on Monday, July 25th. The Goldman Sachs Group decreased their price target on shares of Kontoor Brands from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, July 21st. Williams Capital restated a "downgrade" rating on shares of Kontoor Brands in a research report on Monday, July 25th. Finally, UBS Group decreased their price target on shares of Kontoor Brands from $78.00 to $50.00 in a research report on Friday, July 15th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.83.

Kontoor Brands Price Performance

Kontoor Brands (NYSE:KTB – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.05. Kontoor Brands had a net margin of 9.52% and a return on equity of 155.26%. The firm had revenue of $613.50 million during the quarter, compared to the consensus estimate of $624.46 million. During the same period last year, the firm posted $0.40 EPS. The firm's quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.45 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Friday, September 9th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, September 8th. Kontoor Brands's dividend payout ratio is presently 42.69%.

Kontoor Brands Profile

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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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