Kontoor Brands, Inc. (NYSE:KTB) Position Lowered by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Kontoor Brands, Inc. (NYSE:KTB) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,172 shares of the company’s stock after selling 226 shares during the period. Maryland State Retirement & Pension System’s holdings in Kontoor Brands were worth $1,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KTB. Victory Capital Management Inc. lifted its position in shares of Kontoor Brands by 402.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock worth $43,965,000 after buying an additional 802,166 shares during the last quarter. FMR LLC boosted its stake in Kontoor Brands by 3.1% in the third quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after acquiring an additional 117,815 shares during the period. Invesco Ltd. lifted its holdings in shares of Kontoor Brands by 28.2% in the 3rd quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock worth $12,712,000 after purchasing an additional 63,616 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in Kontoor Brands by 291.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 80,704 shares of the company’s stock valued at $3,544,000 after purchasing an additional 60,111 shares during the period. Finally, Intact Investment Management Inc. bought a new position in Kontoor Brands during the 4th quarter worth $3,396,000. 93.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. UBS Group boosted their price objective on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.20.

Kontoor Brands Price Performance

NYSE KTB opened at $67.21 on Thursday. Kontoor Brands, Inc. has a 12 month low of $37.10 and a 12 month high of $69.69. The firm has a market capitalization of $3.75 billion, a PE ratio of 17.02, a P/E/G ratio of 1.74 and a beta of 1.11. The company’s 50 day simple moving average is $59.44 and its 200 day simple moving average is $57.68. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The company had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.98%. Kontoor Brands’s dividend payout ratio is currently 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.