Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Savant Capital LLC

Savant Capital LLC cut its stake in Kontoor Brands, Inc. (NYSE:KTB) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,320 shares of the company’s stock after selling 341 shares during the period. Savant Capital LLC’s holdings in Kontoor Brands were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of Kontoor Brands by 402.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after buying an additional 802,166 shares during the period. FMR LLC lifted its stake in shares of Kontoor Brands by 3.1% in the 3rd quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after purchasing an additional 117,815 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Kontoor Brands by 28.2% during the 3rd quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock worth $12,712,000 after purchasing an additional 63,616 shares during the period. Landscape Capital Management L.L.C. grew its holdings in shares of Kontoor Brands by 291.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 80,704 shares of the company’s stock worth $3,544,000 after purchasing an additional 60,111 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in shares of Kontoor Brands during the 4th quarter worth about $3,396,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday. UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Barclays boosted their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.20.

Kontoor Brands Trading Down 2.6 %

KTB opened at $65.65 on Monday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.74 and a beta of 1.11. Kontoor Brands, Inc. has a 12 month low of $37.10 and a 12 month high of $69.69. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.38. The business has a fifty day moving average price of $59.10 and a 200 day moving average price of $57.34.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The firm had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. During the same period last year, the business earned $1.16 EPS. Kontoor Brands’s revenue for the quarter was down 5.4% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.05%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

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.