Teacher Retirement System of Texas grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 17.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,374 shares of the company’s stock after purchasing an additional 951 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kontoor Brands were worth $360,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Kontoor Brands by 802.0% during the 1st quarter. Lazard Asset Management LLC now owns 920 shares of the company’s stock worth $44,000 after purchasing an additional 818 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Kontoor Brands by 6.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 3,017 shares of the company’s stock worth $146,000 after purchasing an additional 187 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at $202,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at $215,000. Finally, Captrust Financial Advisors increased its stake in shares of Kontoor Brands by 114.1% in the 1st quarter. Captrust Financial Advisors now owns 4,364 shares of the company’s stock valued at $212,000 after acquiring an additional 2,326 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
KTB opened at $54.00 on Wednesday. The company has a debt-to-equity ratio of 5.08, a current ratio of 2.08 and a quick ratio of 1.12. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.64 and a beta of 1.28. The firm’s fifty day moving average price is $55.76 and its two-hundred day moving average price is $57.30. Kontoor Brands, Inc. has a 1 year low of $21.66 and a 1 year high of $69.16.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 20th. Investors of record on Friday, September 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 61.30%.
Several analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Kontoor Brands in a research report on Wednesday, July 14th. They issued a “buy” rating and a $69.00 price target for the company. UBS Group lifted their price target on shares of Kontoor Brands from $89.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, May 25th. Finally, Zacks Investment Research downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $65.86.
Kontoor Brands Profile
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.
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