Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 62.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,764 shares of the company’s stock after buying an additional 37,913 shares during the period. Teacher Retirement System of Texas owned 0.18% of Kontoor Brands worth $8,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of KTB. Natixis Advisors LLC grew its holdings in shares of Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares during the period. Intech Investment Management LLC grew its holdings in shares of Kontoor Brands by 222.2% in the third quarter. Intech Investment Management LLC now owns 13,038 shares of the company’s stock valued at $1,066,000 after purchasing an additional 8,991 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Kontoor Brands by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock valued at $54,089,000 after purchasing an additional 17,974 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Kontoor Brands in the third quarter valued at about $3,448,000. Finally, Citigroup Inc. boosted its stake in Kontoor Brands by 76.5% during the third quarter. Citigroup Inc. now owns 70,738 shares of the company’s stock worth $5,785,000 after buying an additional 30,650 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KTB. UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Barclays reduced their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Stock Performance

NYSE:KTB opened at $63.68 on Friday. The firm has a market capitalization of $3.52 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The business’s fifty day moving average price is $78.25 and its 200 day moving average price is $81.94. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (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 analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.27%. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

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.