Principal Financial Group Inc. Buys 7,445 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Principal Financial Group Inc. grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 261,022 shares of the company’s stock after acquiring an additional 7,445 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Kontoor Brands worth $22,294,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Monument Capital Management raised its holdings in shares of Kontoor Brands by 1,033.5% during the 4th quarter. Monument Capital Management now owns 37,701 shares of the company’s stock worth $3,220,000 after buying an additional 34,375 shares in the last quarter. James Investment Research Inc. raised its holdings in shares of Kontoor Brands by 12.7% during the 4th quarter. James Investment Research Inc. now owns 27,781 shares of the company’s stock worth $2,373,000 after buying an additional 3,135 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Kontoor Brands by 825.6% during the 4th quarter. Allworth Financial LP now owns 2,851 shares of the company’s stock worth $253,000 after buying an additional 2,543 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Kontoor Brands by 6.5% during the 4th quarter. New York State Teachers Retirement System now owns 76,066 shares of the company’s stock worth $6,497,000 after buying an additional 4,613 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Kontoor Brands by 47.7% during the 4th quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock worth $2,413,000 after buying an additional 9,121 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KTB has been the subject of a number of recent research reports. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group lowered their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company upped their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Price Performance

Shares of KTB opened at $88.01 on Monday. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. 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 has a market capitalization of $4.85 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The business has a 50-day moving average of $87.12 and a 200-day moving average of $83.01.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.36%. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

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. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.