State of Tennessee Department of Treasury Has $2.29 Million Position in Kontoor Brands, Inc. (NYSE:KTB)

State of Tennessee Department of Treasury cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,805 shares of the company’s stock after selling 773 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Kontoor Brands were worth $2,289,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Barclays PLC increased its position in shares of Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the period. Synovus Financial Corp bought a new stake in Kontoor Brands during the 3rd quarter worth about $220,000. GAMMA Investing LLC grew its holdings in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, Marotta Asset Management bought a new position in shares of Kontoor Brands in the 4th quarter valued at about $205,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Down 0.9 %

Kontoor Brands stock opened at $60.94 on Tuesday. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The company’s 50-day moving average price is $62.59 and its two-hundred day moving average price is $78.41. The stock has a market cap of $3.37 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. As a group, analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.41%. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KTB. Barclays reduced their target price on shares of Kontoor Brands from $93.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group decreased their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and an average target price of $84.00.

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.