Mason Street Advisors LLC Buys 334 Shares of Kontoor Brands (NYSE:KTB)

Mason Street Advisors LLC increased its stake in Kontoor Brands (NYSE:KTB) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,837 shares of the company’s stock after purchasing an additional 334 shares during the period. Mason Street Advisors LLC’s holdings in Kontoor Brands were worth $556,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CENTRAL TRUST Co bought a new position in shares of Kontoor Brands in the second quarter worth $25,000. Arbor Wealth Management LLC bought a new position in Kontoor Brands in the second quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in Kontoor Brands in the second quarter valued at about $28,000. Blackhill Capital Inc. bought a new position in Kontoor Brands in the second quarter valued at about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Kontoor Brands in the second quarter valued at about $32,000. Institutional investors own 84.56% of the company’s stock.

NYSE:KTB opened at $35.15 on Thursday. The company has a current ratio of 2.47, a quick ratio of 1.07 and a debt-to-equity ratio of 18.80. The business’s 50-day moving average price is $37.04. Kontoor Brands has a 1-year low of $25.78 and a 1-year high of $41.75.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The company had revenue of $638.00 million during the quarter, compared to analyst estimates of $646.22 million. Kontoor Brands’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Kontoor Brands will post 3.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Monday, December 9th.

KTB has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Kontoor Brands from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays initiated coverage on Kontoor Brands in a research report on Tuesday, November 12th. They issued an “equal weight” rating and a $35.00 target price on the stock. Bank of America lifted their target price on Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a research report on Friday, August 9th. ValuEngine cut Kontoor Brands from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Macquarie initiated coverage on Kontoor Brands in a research report on Monday, October 21st. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.81.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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