Strs Ohio Raises Position in Kontoor Brands, Inc. (NYSE:KTB)

Strs Ohio raised its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 480.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Strs Ohio’s holdings in Kontoor Brands were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Kontoor Brands during the 4th quarter worth $25,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Kontoor Brands by 5,710.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $26,000 after acquiring an additional 571 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock worth $57,000 after acquiring an additional 715 shares during the last quarter. Covestor Ltd boosted its stake in shares of Kontoor Brands by 44.5% during the 3rd quarter. Covestor Ltd now owns 2,476 shares of the company’s stock worth $109,000 after acquiring an additional 763 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Kontoor Brands by 7.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,720 shares of the company’s stock valued at $207,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on KTB. UBS Group raised their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Barclays decreased their price objective on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.40.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $62.06 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. The company has a market cap of $3.46 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.65 and a beta of 1.13. The firm’s fifty day moving average is $58.99 and its two-hundred day moving average is $56.92. Kontoor Brands, Inc. has a 52-week low of $37.10 and a 52-week high of $64.49.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. As a group, analysts anticipate that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.22%. Kontoor Brands’s payout ratio is currently 49.26%.

Kontoor Brands 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.