Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 69.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,635 shares of the company’s stock after selling 46,139 shares during the quarter. Raymond James & Associates’ holdings in Kontoor Brands were worth $1,288,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Kontoor Brands by 5,710.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 571 shares during the period. Ronald Blue Trust Inc. boosted its holdings in shares of Kontoor Brands by 225.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after acquiring an additional 761 shares during the period. Quarry LP acquired a new position in shares of Kontoor Brands during the first quarter valued at $52,000. Jones Financial Companies Lllp boosted its holdings in shares of Kontoor Brands by 121.4% during the third quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after acquiring an additional 715 shares during the period. Finally, Gyon Technologies Capital Management LP acquired a new position in shares of Kontoor Brands during the fourth quarter valued at $58,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kontoor Brands Price Performance

NYSE KTB opened at $56.45 on Friday. The stock’s 50-day moving average price is $59.15 and its two-hundred day moving average price is $55.87. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The company has a market cap of $3.15 billion, a PE ratio of 13.90, a PEG ratio of 1.46 and a beta of 1.13. Kontoor Brands, Inc. has a 1 year low of $37.10 and a 1 year high of $64.49.

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

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 8th were issued 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 3.54%. Kontoor Brands’s dividend payout ratio is 49.26%.

Kontoor Brands 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.