Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,100 shares of the company’s stock after selling 10,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Kontoor Brands were worth $1,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KTB. Janney Montgomery Scott LLC lifted its stake in Kontoor Brands by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after acquiring an additional 141 shares during the period. New York State Teachers Retirement System lifted its stake in Kontoor Brands by 6.5% during the 4th quarter. New York State Teachers Retirement System now owns 76,066 shares of the company’s stock valued at $6,497,000 after acquiring an additional 4,613 shares during the period. Allworth Financial LP lifted its stake in Kontoor Brands by 825.6% during the 4th quarter. Allworth Financial LP now owns 2,851 shares of the company’s stock valued at $253,000 after acquiring an additional 2,543 shares during the period. James Investment Research Inc. lifted its stake in Kontoor Brands by 12.7% during the 4th quarter. James Investment Research Inc. now owns 27,781 shares of the company’s stock valued at $2,373,000 after acquiring an additional 3,135 shares during the period. Finally, Monument Capital Management lifted its stake in Kontoor Brands by 1,033.5% during the 4th quarter. Monument Capital Management now owns 37,701 shares of the company’s stock valued at $3,220,000 after acquiring an additional 34,375 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Stifel Nicolaus decreased 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 note on Thursday, April 10th. Finally, Barclays boosted their target price on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Kontoor Brands Stock Performance

KTB opened at $68.25 on Tuesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a fifty day moving average price of $64.14 and a 200 day moving average price of $75.07. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The stock has a market cap of $3.79 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.12 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.05%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s payout ratio is presently 50.98%.

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.