Arizona State Retirement System Has $881,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Arizona State Retirement System cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,121 shares of the company’s stock after selling 249 shares during the quarter. Arizona State Retirement System’s holdings in Kontoor Brands were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Kinloch Capital LLC boosted its position in Kontoor Brands by 0.6% during the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after acquiring an additional 209 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Kontoor Brands by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock worth $705,000 after acquiring an additional 250 shares during the period. Credit Suisse AG boosted its position in Kontoor Brands by 0.6% during the 2nd quarter. Credit Suisse AG now owns 47,091 shares of the company’s stock worth $1,571,000 after acquiring an additional 259 shares during the period. Commonwealth Equity Services LLC boosted its position in Kontoor Brands by 2.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock worth $554,000 after acquiring an additional 279 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in shares of Kontoor Brands by 9.7% during the 1st quarter. Advisory Services Network LLC now owns 3,604 shares of the company’s stock valued at $174,000 after buying an additional 319 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 1.1 %

Shares of KTB stock opened at $54.57 on Wednesday. Kontoor Brands, Inc. has a 12 month low of $37.10 and a 12 month high of $64.49. The firm has a market cap of $3.04 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.13. The stock has a 50 day moving average of $59.48 and a 200-day moving average of $55.79. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05.

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

Kontoor Brands Dividend Announcement

The company also recently announced 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 dividend yield of 3.67%. Kontoor Brands’s payout ratio is 49.26%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Wells Fargo & Company boosted their target price on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. UBS Group boosted their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Barclays reduced their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their price target on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.40.

About Kontoor Brands

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.