Alliancebernstein L.P. Acquires 4,680 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Alliancebernstein L.P. lifted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,702 shares of the company’s stock after purchasing an additional 4,680 shares during the quarter. Alliancebernstein L.P.’s holdings in Kontoor Brands were worth $9,028,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KTB. Mendel Money Management lifted its position in Kontoor Brands by 2.8% during the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock worth $421,000 after buying an additional 135 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after acquiring an additional 141 shares during the last quarter. GAMMA Investing LLC raised its holdings in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Kontoor Brands by 7.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock valued at $252,000 after purchasing an additional 197 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Kontoor Brands by 0.4% in the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock valued at $4,382,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of KTB opened at $57.27 on Friday. The firm has a market capitalization of $3.17 billion, a PE ratio of 12.90, a PEG ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company’s 50-day moving average is $69.19 and its 200-day moving average is $80.30. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (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 during the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the business posted $1.28 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s dividend payout ratio is 47.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. UBS Group decreased their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.