HoldingsChannel.com reports that Louisiana State Employees Retirement System purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB – Free Report) in the 4th quarter. The institutional investor bought 25,000 shares of the company's stock, valued at approximately $1.56 million.
Several other institutional investors have also recently changed their holdings in KTB. Victory Capital Management Inc. grew his 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 purchasing an additional 802,166 shares during the period. Norges Bank acquired a new stake in shares of His Kontoor Brands during the 4th quarter valued at approximately $20,837,000. JPMorgan Chase & Co. increased its stake in Control Brands by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,353,135 shares of the company's stock worth $59,416,000 after acquiring an additional 482,274 shares in the last quarter. Morgan Stanley increased its stake in Control Brands by 66.0% in the 4th quarter. Morgan Stanley now owns 1,205,581 shares of the company's stock valued at $48,211,000 after acquiring an additional 479,542 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Kontoor Brands by 120.7% in the 1st quarter. ArrowStreet Capital Limited Partnership now owns 518,702 shares of the company's stock valued at $25.1 million after acquiring an additional 283,720 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.
Kontoor brand stock price performance
KTB stock opened Friday at $56.45. The company has a debt-equity ratio of 2.05, a quick ratio of 1.38, and a current ratio of 2.66. Kontoor Brands, Inc. has a 12-month low of $37.10 and a 12-month high of $64.49. The company's 50-day moving average price is $59.15 and its 200-day moving average price is $55.87. The company has a market capitalization of $3.15 billion, a P/E ratio of 13.90x, a PEG ratio of 1.46x, and a beta of 1.13x.
Kontoor Brands (NYSE:KTB – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $669.8 million for the quarter, compared to the consensus estimate of $720.7 million. Kontoor Brands had a return on equity of 76.30% and a net profit margin of 8.86%. On average, analysts expect Kontoor Brands, Inc.'s EPS for the current fiscal year to be 4.7.
Kontoor Brands announces dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. As a shareholder of record on Friday, March 8th, he was awarded a $0.50 dividend. This equates to a $2.00 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date for this dividend was Thursday, March 7th. Kontoor Brands' dividend payout ratio is currently 49.26%.
Analyst sets new price target
KTB has been featured in several recent analyst reports. Goldman Sachs Group increased their target price on shares of Control Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Barclays lowered their target price on shares of Control Brands from $75.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. UBS Group increased their target price on shares of Control Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Edward Jones downgraded shares of Control Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Company increased their target price on shares of Contor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and an average price target of $70.40.
Get the latest stock report on Kontoor brand
Kontoor brand profile
(Free report)
Kontoor Brands, Inc is a lifestyle apparel company that designs, produces, sources, 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. We license and sell apparel under the brand name Rock & Republic.
References
Curious if other hedge funds own KTB? Visit HoldingsChannel.com to get the latest 13F filing and insider transactions for Kontoor Brands, Inc. (NYSE:KTB – Free Report).
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