Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 69.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,635 shares of the company’s stock after selling 46,139 shares during the quarter. Raymond James & Associates’ holdings in Kontoor Brands were worth $1,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KTB. Victory Capital Management Inc. grew its position in Kontoor Brands by 402.9% during the third quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after buying an additional 802,166 shares during the period. Norges Bank acquired a new stake in Kontoor Brands during the fourth quarter valued at $20,837,000. JPMorgan Chase & Co. grew its position in Kontoor Brands by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 1,353,135 shares of the company’s stock valued at $59,416,000 after buying an additional 482,274 shares during the period. Morgan Stanley grew its position in Kontoor Brands by 66.0% during the fourth quarter. Morgan Stanley now owns 1,205,581 shares of the company’s stock valued at $48,211,000 after buying an additional 479,542 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Kontoor Brands by 120.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 518,702 shares of the company’s stock valued at $25,100,000 after buying an additional 283,720 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

NYSE:KTB opened at $56.45 on Friday. 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 current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The company has a market cap of $3.15 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.46 and a beta of 1.13. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $64.49.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 8th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, March 7th. Kontoor Brands’s dividend payout ratio is currently 49.26%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays dropped their price target 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. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, UBS Group increased their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.40.

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.