Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 62.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,764 shares of the company’s stock after buying an additional 37,913 shares during the period. Teacher Retirement System of Texas’ holdings in Kontoor Brands were worth $8,435,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KTB. Sanctuary Advisors LLC acquired a new stake in Kontoor Brands in the third quarter valued at about $332,000. Janus Henderson Group PLC lifted its position in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after purchasing an additional 11,337 shares during the period. Principal Financial Group Inc. lifted its position in Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after purchasing an additional 7,445 shares during the period. Fortitude Family Office LLC lifted its position in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares during the period. Finally, Natixis Advisors LLC lifted its position in Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Price Performance

KTB stock opened at $63.68 on Friday. The firm has a 50 day moving average of $78.25 and a 200-day moving average of $81.94. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. During the same period last year, the company posted $1.28 EPS. The company’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.27%. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KTB shares. Barclays reduced their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.50.

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.