Franklin Resources Inc. Boosts Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Franklin Resources Inc. boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,452 shares of the company’s stock after acquiring an additional 1,511 shares during the period. Franklin Resources Inc.’s holdings in Kontoor Brands were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Kontoor Brands in the fourth quarter valued at approximately $17,630,000. JPMorgan Chase & Co. increased its stake in Kontoor Brands by 28.4% in the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after buying an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Kontoor Brands by 67.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after buying an additional 116,000 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Kontoor Brands in the 4th quarter worth $7,512,000. Finally, Barclays PLC lifted its stake 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 acquiring an additional 77,137 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of KTB opened at $55.46 on Wednesday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.12 and a beta of 0.93. 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 1 year low of $50.00 and a 1 year high of $96.80. The company’s 50 day simple moving average is $67.27 and its 200 day simple moving average is $79.79.

Kontoor Brands (NYSE:KTB) last posted 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 return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter last year, the firm earned $1.28 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KTB shares. Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Barclays cut their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Kontoor Brands 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.