Oregon Public Employees Retirement Fund decreased its stake in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,036 shares of the company’s stock after selling 400 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Kontoor Brands were worth $746,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Kontoor Brands by 353.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 928,314 shares of the company’s stock worth $47,576,000 after acquiring an additional 723,794 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Kontoor Brands by 49.4% in the 4th quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company’s stock worth $41,577,000 after buying an additional 268,201 shares during the last quarter. Foundry Partners LLC grew its position in Kontoor Brands by 38.6% during the fourth quarter. Foundry Partners LLC now owns 303,374 shares of the company’s stock valued at $15,548,000 after acquiring an additional 84,539 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Kontoor Brands by 29.4% during the fourth quarter. Bank of America Corp DE now owns 251,751 shares of the company’s stock worth $12,902,000 after acquiring an additional 57,181 shares in the last quarter. Finally, Skba Capital Management LLC lifted its holdings in shares of Kontoor Brands by 23.0% in the 4th quarter. Skba Capital Management LLC now owns 280,184 shares of the company’s stock worth $14,359,000 after acquiring an additional 52,470 shares during the last quarter. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE KTB opened at $35.27 on Friday. The stock has a market cap of $1.98 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.88 and a beta of 1.16. Kontoor Brands, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $61.24. The stock has a 50 day simple moving average of $36.66 and a two-hundred day simple moving average of $42.60. The company has a debt-to-equity ratio of 4.29, a quick ratio of 1.12 and a current ratio of 2.01.
Kontoor Brands (NYSE:KTB – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $679.70 million during the quarter, compared to the consensus estimate of $655.65 million. Kontoor Brands had a return on equity of 138.25% and a net margin of 8.46%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Friday, June 10th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 5.22%. The ex-dividend date was Thursday, June 9th. Kontoor Brands’s dividend payout ratio is currently 50.83%.
A number of equities analysts recently commented on KTB shares. TheStreet upgraded shares of Kontoor Brands from a “c” rating to a “b” rating in a research report on Friday, May 13th. Stifel Nicolaus lowered their target price on Kontoor Brands from $50.00 to $45.00 in a research note on Wednesday, May 18th. Wells Fargo & Company started coverage on Kontoor Brands in a research note on Monday. They issued an “overweight” rating and a $40.00 target price for the company. Barclays cut Kontoor Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $53.00 to $40.00 in a research note on Wednesday, June 8th. Finally, The Goldman Sachs Group cut shares of Kontoor Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $41.00 in a report on Friday, June 10th.
Kontoor Brands Company Profile (Get Rating)
Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.
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