Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 21.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,373 shares of the company’s stock after acquiring an additional 783 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kontoor Brands were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KTB. Quarry LP acquired a new position in shares of Kontoor Brands during the first quarter worth approximately $52,000. Gyon Technologies Capital Management LP bought a new stake in Kontoor Brands during the fourth quarter worth approximately $58,000. Bartlett & Co. LLC raised its holdings in Kontoor Brands by 4,400.0% during the second quarter. Bartlett & Co. LLC now owns 1,575 shares of the company’s stock worth $66,000 after purchasing an additional 1,540 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Kontoor Brands by 195.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,593 shares of the company’s stock worth $77,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in Kontoor Brands by 146.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,927 shares of the company’s stock worth $77,000 after purchasing an additional 1,144 shares in the last quarter.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $48.89 on Monday. The company’s fifty day moving average is $45.05 and its two-hundred day moving average is $43.52. The company has a quick ratio of 1.10, a current ratio of 2.65 and a debt-to-equity ratio of 2.21. Kontoor Brands, Inc. has a 12-month low of $37.10 and a 12-month high of $53.83. The company has a market cap of $2.75 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.50 per share. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.09%. The ex-dividend date is Thursday, December 7th. Kontoor Brands’s payout ratio is 51.06%.

Analyst Ratings Changes

Several equities research analysts recently commented on KTB shares. Stifel Nicolaus reissued a “buy” rating and set a $63.00 target price on shares of Kontoor Brands in a report on Monday, September 18th. Barclays raised Kontoor Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $47.00 to $59.00 in a report on Monday, November 6th. Finally, The Goldman Sachs Group raised Kontoor Brands from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $56.00 in a report on Thursday, October 19th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $59.29.

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. It licenses and sells apparel under the Rock & Republic brad name. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.