New York State Teachers Retirement System Sells 400 Shares of Kontoor Brands, Inc. (NYSE:KTB)

New York State Teachers Retirement System lessened its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,453 shares of the company’s stock after selling 400 shares during the quarter. New York State Teachers Retirement System’s holdings in Kontoor Brands were worth $5,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Kontoor Brands during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands in the third quarter valued at about $30,000. Sound Income Strategies LLC bought a new stake in Kontoor Brands during the third quarter worth about $48,000. GAMMA Investing LLC grew its stake in Kontoor Brands by 53.5% during the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after buying an additional 244 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Kontoor Brands by 49.9% in the 2nd quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after buying an additional 324 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 0.7 %

NYSE KTB opened at $84.80 on Wednesday. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. Kontoor Brands, Inc. has a twelve month low of $47.33 and a twelve month high of $89.76. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business’s fifty day moving average is $78.23 and its 200 day moving average is $71.98.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same period last year, the firm posted $1.22 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.45%. Kontoor Brands’s payout ratio is currently 45.05%.

Insider Activity at Kontoor Brands

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KTB. Barclays upped their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company upped their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Guggenheim lifted their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, UBS Group lifted their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.00.

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.