Illinois Municipal Retirement Fund Has $2.34 Million Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Illinois Municipal Retirement Fund raised its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,407 shares of the company’s stock after buying an additional 608 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kontoor Brands were worth $2,341,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KTB. HHM Wealth Advisors LLC bought a new position in Kontoor Brands during the fourth quarter worth $29,000. Kennebec Savings Bank bought a new stake in Kontoor Brands in the 3rd quarter valued at $32,000. Farther Finance Advisors LLC grew its position in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 purchasing an additional 334 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Down 1.4 %

Shares of Kontoor Brands stock opened at $67.50 on Friday. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The stock has a market capitalization of $3.72 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a 50-day simple moving average of $86.05 and a 200 day simple moving average of $83.04. 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 issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same period in the prior year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.08%. Kontoor Brands’s payout ratio is 46.85%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group decreased their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Barclays cut their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the company from $89.00 to $93.00 in a research note 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 data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and a consensus target price of $95.17.

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.