Comerica Bank Sells 395 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Comerica Bank lowered its position in Kontoor Brands, Inc. (NYSE:KTBGet Rating) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 87,319 shares of the company’s stock after selling 395 shares during the period. Comerica Bank owned about 0.16% of Kontoor Brands worth $3,086,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KTB. Cullen Capital Management LLC boosted its holdings in Kontoor Brands by 104.3% in the 2nd quarter. Cullen Capital Management LLC now owns 9,182,637 shares of the company’s stock worth $15,113,000 after buying an additional 4,687,259 shares during the period. FMR LLC boosted its holdings in shares of Kontoor Brands by 10.2% during the 2nd quarter. FMR LLC now owns 3,128,425 shares of the company’s stock valued at $104,395,000 after purchasing an additional 289,929 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Kontoor Brands by 1,087.0% during the 2nd quarter. Millennium Management LLC now owns 276,745 shares of the company’s stock valued at $9,235,000 after purchasing an additional 253,431 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Kontoor Brands by 16.0% during the 2nd quarter. Jennison Associates LLC now owns 1,422,768 shares of the company’s stock valued at $47,478,000 after purchasing an additional 195,789 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Kontoor Brands by 64.1% during the 2nd quarter. Victory Capital Management Inc. now owns 349,249 shares of the company’s stock valued at $11,654,000 after purchasing an additional 136,402 shares during the last quarter.

Analyst Upgrades and Downgrades

KTB has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, December 12th. Wells Fargo & Company lowered their price target on shares of Kontoor Brands from $48.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Finally, Barclays lowered their price target on shares of Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.17.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $45.81 on Tuesday. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.12 and a quick ratio of 0.78. Kontoor Brands, Inc. has a 1-year low of $30.98 and a 1-year high of $51.85. The firm has a market capitalization of $2.54 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The company’s 50-day moving average is $41.86 and its 200 day moving average is $38.42.

Kontoor Brands (NYSE:KTBGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. Kontoor Brands had a net margin of 9.21% and a return on equity of 143.05%. The company had revenue of $606.52 million for the quarter, compared to analyst estimates of $630.40 million. Research analysts forecast that Kontoor Brands, Inc. will post 4.39 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Investors of record on Friday, December 9th were given a $0.48 dividend. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, December 8th. Kontoor Brands’s dividend payout ratio is 46.38%.

About Kontoor Brands

(Get Rating)

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

Further Reading

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

Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.