Savant Capital LLC Cuts Position in Kontoor Brands, Inc. (NYSE:KTB)

Savant Capital LLC reduced its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,320 shares of the company’s stock after selling 341 shares during the quarter. Savant Capital LLC’s holdings in Kontoor Brands were worth $457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of KTB. Victory Capital Management Inc. lifted its stake in Kontoor Brands by 402.9% in the third quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after purchasing an additional 802,166 shares during the last quarter. FMR LLC grew its stake in shares of Kontoor Brands by 3.1% during the 3rd quarter. FMR LLC now owns 3,866,900 shares of the company’s stock worth $169,796,000 after acquiring an additional 117,815 shares during the period. Invesco Ltd. increased its holdings in Kontoor Brands by 28.2% in the 3rd quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock worth $12,712,000 after acquiring an additional 63,616 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in Kontoor Brands by 291.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 80,704 shares of the company’s stock valued at $3,544,000 after acquiring an additional 60,111 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in Kontoor Brands during the fourth quarter valued at about $3,396,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock opened at $65.65 on Monday. The firm has a market capitalization of $3.66 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 1.96. Kontoor Brands, Inc. has a 12 month low of $37.10 and a 12 month high of $69.69. The business’s 50-day moving average price is $59.10 and its 200-day moving average price is $57.34.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s payout ratio is presently 50.63%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KTB. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Barclays boosted their price objective on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group raised their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday. Finally, UBS Group boosted their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and an average target price of $75.20.

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.