Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. cut its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,143 shares of the company’s stock after selling 521 shares during the period. Financial Counselors Inc.’s holdings in Kontoor Brands were worth $439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KTB. State Street Corp grew its position in Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after acquiring an additional 26,759 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after purchasing an additional 44,287 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after purchasing an additional 15,058 shares during the period. Jennison Associates LLC increased its position in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after purchasing an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after buying an additional 35,932 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

KTB stock opened at $63.78 on Friday. The stock’s 50 day moving average is $76.20 and its two-hundred day moving average is $81.60. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $96.80. The company has a market capitalization of $3.53 billion, a PE ratio of 14.36, a P/E/G ratio of 2.12 and a beta of 1.23. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given 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 3.26%. Kontoor Brands’s payout ratio is 47.60%.

Wall Street Analyst Weigh In

KTB has been the subject of several research reports. UBS Group decreased their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Barclays lowered their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

About Kontoor Brands

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.