Nisa Investment Advisors LLC Sells 4,728 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Nisa Investment Advisors LLC cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,372 shares of the company’s stock after selling 4,728 shares during the period. Nisa Investment Advisors LLC’s holdings in Kontoor Brands were worth $3,207,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FMR LLC grew its position in 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 last quarter. Vanguard Group Inc. lifted its holdings in Kontoor Brands by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock worth $282,195,000 after buying an additional 20,964 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in Kontoor Brands by 34.3% during the 3rd quarter. Nomura Holdings Inc. now owns 47,094 shares of the company’s stock worth $2,068,000 after buying an additional 12,018 shares in the last quarter. Comerica Bank acquired a new position in Kontoor Brands during the 2nd quarter worth $92,290,000. Finally, Hsbc Holdings PLC lifted its holdings in Kontoor Brands by 214.9% during the 3rd quarter. Hsbc Holdings PLC now owns 26,414 shares of the company’s stock worth $1,163,000 after buying an additional 18,026 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays reduced their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Wells Fargo & Company increased their price target on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. The Goldman Sachs Group increased their price target on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, UBS Group increased their price target on Kontoor Brands from $83.00 to $85.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.40.

Kontoor Brands Stock Down 0.5 %

NYSE KTB opened at $53.96 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $64.49. The company has a 50 day moving average of $59.67 and a 200-day moving average of $55.45. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.44 and a beta of 1.13.

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

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.71%. Kontoor Brands’s dividend payout ratio (DPR) is 49.26%.

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.