Kontoor Brands, Inc. (NYSE:KTB) Stock Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 228,410 shares of the company’s stock after selling 25,242 shares during the quarter. Nuveen Asset Management LLC owned about 0.41% of Kontoor Brands worth $7,677,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Coston McIsaac & Partners acquired a new stake in shares of Kontoor Brands in the second quarter worth about $68,000. Point72 Hong Kong Ltd bought a new stake in Kontoor Brands during the second quarter worth approximately $109,000. Tower Research Capital LLC TRC grew its holdings in Kontoor Brands by 77.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the company’s stock valued at $129,000 after purchasing an additional 1,674 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Kontoor Brands by 70.6% in the second quarter. SG Americas Securities LLC now owns 5,435 shares of the company’s stock valued at $181,000 after purchasing an additional 2,249 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of Kontoor Brands in the third quarter worth $207,000.

Insider Buying and Selling

In related news, COO Thomas E. Waldron sold 31,237 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $51.93, for a total transaction of $1,622,137.41. Following the completion of the transaction, the chief operating officer now directly owns 101,347 shares of the company’s stock, valued at approximately $5,262,949.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Kontoor Brands Price Performance

KTB stock opened at $50.58 on Friday. The company’s 50-day moving average price is $46.73 and its two-hundred day moving average price is $41.30. Kontoor Brands, Inc. has a 12 month low of $30.98 and a 12 month high of $53.83. The company has a quick ratio of 0.88, a current ratio of 2.23 and a debt-to-equity ratio of 3.12. The firm has a market cap of $2.81 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.35 and a beta of 1.16.

Kontoor Brands (NYSE:KTB – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $731.60 million for the quarter, compared to analysts’ expectations of $666.78 million. Kontoor Brands had a return on equity of 124.39% and a net margin of 9.33%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that Kontoor Brands, Inc. will post 4.75 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 10th will be issued a $0.48 dividend. The ex-dividend date is Thursday, March 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.80%. Kontoor Brands’s dividend payout ratio (DPR) is presently 44.65%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays raised their price target on shares of Kontoor Brands from $37.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 7th. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, March 1st. Guggenheim cut their price objective on shares of Kontoor Brands from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. UBS Group lifted their target price on shares of Kontoor Brands from $54.00 to $66.00 in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Kontoor Brands from $48.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Kontoor Brands Company Profile

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Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.