Advisors Asset Management Inc. Sells 17,844 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Advisors Asset Management Inc. lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTBGet Rating) by 54.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,886 shares of the company’s stock after selling 17,844 shares during the period. Advisors Asset Management Inc.’s holdings in Kontoor Brands were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Kontoor Brands by 552.5% in the 1st quarter. Parallel Advisors LLC now owns 659 shares of the company’s stock valued at $28,000 after purchasing an additional 558 shares during the last quarter. Motco lifted its stake in shares of Kontoor Brands by 260.7% in the 2nd quarter. Motco now owns 927 shares of the company’s stock valued at $31,000 after purchasing an additional 670 shares during the period. NN Investment Partners Holdings N.V. increased its position in Kontoor Brands by 27.6% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 1,171 shares of the company’s stock valued at $48,000 after buying an additional 253 shares in the last quarter. US Bancorp DE increased its position in Kontoor Brands by 60.4% in the 2nd quarter. US Bancorp DE now owns 4,867 shares of the company’s stock valued at $163,000 after buying an additional 1,833 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Kontoor Brands by 70.6% in the 2nd quarter. SG Americas Securities LLC now owns 5,435 shares of the company’s stock valued at $181,000 after buying an additional 2,249 shares in the last quarter. Institutional investors own 99.18% of the company’s stock.

Kontoor Brands Price Performance

Shares of KTB opened at $42.53 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 2.12 and a debt-to-equity ratio of 3.96. The firm has a 50 day moving average of $36.49 and a 200 day moving average of $37.11. Kontoor Brands, Inc. has a twelve month low of $30.98 and a twelve month high of $60.95.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, December 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Thursday, December 8th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.46. Kontoor Brands’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KTB. William Blair lowered Kontoor Brands to a “hold” rating and set a $43.00 price objective for the company. in a report on Monday, July 25th. Barclays dropped their target price on Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Williams Capital reaffirmed a “downgrade” rating on shares of Kontoor Brands in a report on Monday, July 25th. Finally, Wells Fargo & Company decreased their price target on shares of Kontoor Brands from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.00.

Kontoor Brands Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding KTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kontoor Brands, Inc. (NYSE:KTBGet Rating).

Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.