Optimist Retirement Group LLC Has $263,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Optimist Retirement Group LLC lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 32.5% in the second quarter, Holdings Channel reports. The firm owned 3,983 shares of the company’s stock after selling 1,915 shares during the period. Optimist Retirement Group LLC’s holdings in Kontoor Brands were worth $263,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KTB. Quest Partners LLC bought a new stake in Kontoor Brands in the 2nd quarter valued at $27,000. Principal Securities Inc. acquired a new position in Kontoor Brands in the 4th quarter valued at $32,000. Signaturefd LLC increased its position in Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after acquiring an additional 324 shares during the period. Headlands Technologies LLC boosted its stake in shares of Kontoor Brands by 22.7% in the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after buying an additional 293 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Kontoor Brands by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after purchasing an additional 660 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KTB. Stifel Nicolaus lifted their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Barclays raised their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Guggenheim increased their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $78.83.

Kontoor Brands Stock Down 0.1 %

Shares of NYSE:KTB opened at $77.13 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. Kontoor Brands, Inc. has a one year low of $39.90 and a one year high of $78.97. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.87 and a beta of 1.20. The firm has a fifty day moving average price of $71.07 and a two-hundred day moving average price of $66.57.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The firm had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Analysts anticipate that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

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.