Envestnet Portfolio Solutions Inc. Has $381,000 Stake in Kontoor Brands, Inc. (NYSE:KTB)

Envestnet Portfolio Solutions Inc. lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,455 shares of the company’s stock after selling 161 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Kontoor Brands were worth $381,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Natixis Advisors LLC lifted its holdings in Kontoor Brands by 1.5% in the 4th quarter. Natixis Advisors LLC now owns 17,640 shares of the company’s stock worth $1,507,000 after purchasing an additional 257 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Kontoor Brands by 23.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,933 shares of the company’s stock valued at $1,275,000 after purchasing an additional 2,832 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Kontoor Brands by 67.1% in the fourth 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. Swiss National Bank boosted its holdings in shares of Kontoor Brands by 0.5% during the 4th quarter. Swiss National Bank now owns 98,614 shares of the company’s stock worth $8,423,000 after buying an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after buying an additional 503 shares during the period. Institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

KTB has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. 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. Finally, UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock opened at $64.45 on Thursday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm has a market cap of $3.57 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The firm’s 50-day simple moving average is $77.03 and its 200-day simple moving average is $81.77.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.60%.

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.