State Board of Administration of Florida Retirement System Increases Holdings in Kontoor Brands, Inc. (NYSE:KTB)

State Board of Administration of Florida Retirement System increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,440 shares of the company’s stock after purchasing an additional 1,887 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Kontoor Brands were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Kontoor Brands by 34.6% in the 4th quarter. CWM LLC now owns 867 shares of the company’s stock valued at $35,000 after buying an additional 223 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Kontoor Brands in the 2nd quarter valued at about $109,000. Tower Research Capital LLC TRC boosted its position in Kontoor Brands by 77.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the company’s stock valued at $129,000 after buying an additional 1,674 shares during the last quarter. Inspire Investing LLC purchased a new position in Kontoor Brands in the 3rd quarter valued at about $207,000. Finally, Captrust Financial Advisors boosted its position in Kontoor Brands by 29.1% in the 1st quarter. Captrust Financial Advisors now owns 5,630 shares of the company’s stock valued at $233,000 after buying an additional 1,268 shares during the last quarter.

Kontoor Brands Price Performance

KTB opened at $39.31 on Wednesday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13. Kontoor Brands, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $53.83. The company’s 50-day moving average price is $46.36 and its 200 day moving average price is $44.63. The company has a quick ratio of 0.94, a current ratio of 2.59 and a debt-to-equity ratio of 2.77.

Kontoor Brands (NYSE:KTB – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $671.91 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 102.91%. Kontoor Brands’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.7 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 9th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $1.92 annualized dividend and a yield of 4.88%. Kontoor Brands’s dividend payout ratio (DPR) is 47.29%.

Analysts Set New Price Targets

KTB has been the subject of a number of analyst reports. Guggenheim decreased their price objective on shares of Kontoor Brands from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 15th. Stifel Nicolaus raised shares of Kontoor Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $44.00 to $63.00 in a research report on Tuesday, February 28th. 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 note on Wednesday, March 1st. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $48.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Finally, UBS Group cut their target price on shares of Kontoor Brands from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average target price of $54.38.

Insider Buying and Selling

In other Kontoor Brands news, COO Christopher Waldeck sold 35,684 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $50.99, for a total value of $1,819,527.16. Following the completion of the transaction, the chief operating officer now owns 92,252 shares in the company, valued at approximately $4,703,929.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kontoor Brands news, COO Thomas E. Waldron sold 31,237 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $51.93, for a total value of $1,622,137.41. Following the completion of the transaction, the chief operating officer now owns 101,347 shares in the company, valued at approximately $5,262,949.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Christopher Waldeck sold 35,684 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $50.99, for a total transaction of $1,819,527.16. Following the completion of the transaction, the chief operating officer now owns 92,252 shares of the company’s stock, valued at approximately $4,703,929.48. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Kontoor Brands 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.