Rhumbline Advisers Purchases 278 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Rhumbline Advisers lifted its position in Kontoor Brands, Inc. (NYSE:KTB) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,162 shares of the company’s stock after purchasing an additional 278 shares during the quarter. Rhumbline Advisers owned about 0.26% of Kontoor Brands worth $9,117,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KTB. Janney Montgomery Scott LLC increased its holdings in shares of Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after purchasing an additional 141 shares during the period. New York State Teachers Retirement System grew its position in Kontoor Brands by 6.5% in the fourth quarter. New York State Teachers Retirement System now owns 76,066 shares of the company’s stock worth $6,497,000 after acquiring an additional 4,613 shares in the last quarter. Allworth Financial LP grew its position in Kontoor Brands by 825.6% in the fourth quarter. Allworth Financial LP now owns 2,851 shares of the company’s stock worth $253,000 after acquiring an additional 2,543 shares in the last quarter. James Investment Research Inc. grew its position in Kontoor Brands by 12.7% in the fourth quarter. James Investment Research Inc. now owns 27,781 shares of the company’s stock worth $2,373,000 after acquiring an additional 3,135 shares in the last quarter. Finally, Monument Capital Management grew its position in Kontoor Brands by 1,033.5% in the fourth quarter. Monument Capital Management now owns 37,701 shares of the company’s stock worth $3,220,000 after acquiring an additional 34,375 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

NYSE KTB opened at $68.32 on Wednesday. The company has a 50-day simple moving average of $64.34 and a two-hundred day simple moving average of $75.03. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.12 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. During the same period in the prior year, the business posted $1.16 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.04%. Kontoor Brands’s dividend payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KTB shares. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Barclays upped their target price on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Stifel Nicolaus cut their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. UBS Group upped their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

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.