Cerity Partners LLC Has $236,000 Stake in Kontoor Brands, Inc. (NYSE:KTB)

Cerity Partners LLC lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,831 shares of the company’s stock after selling 744 shares during the quarter. Cerity Partners LLC’s holdings in Kontoor Brands were worth $236,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KTB. Quadrant Capital Group LLC lifted its holdings in Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after acquiring an additional 145 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Kontoor Brands by 44.1% during the fourth quarter. Wells Fargo & Company MN now owns 43,379 shares of the company’s stock worth $3,705,000 after purchasing an additional 13,276 shares during the period. Integrated Quantitative Investments LLC bought a new position in shares of Kontoor Brands during the 4th quarter valued at about $1,301,000. Landscape Capital Management L.L.C. acquired a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $4,268,000. Finally, Pitcairn Co. acquired a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $524,000. Institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KTB shares. UBS Group cut their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company reduced their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays dropped their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. One research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $62.48 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The stock has a 50 day moving average price of $63.64 and a 200 day moving average price of $78.70. The stock has a market capitalization of $3.46 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 3.33%. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.60%.

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.