Kontoor Brands, Inc. (NYSE:KTB) Stake Cut by Financial Counselors Inc.

Financial Counselors Inc. lessened its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,143 shares of the company’s stock after selling 521 shares during the period. Financial Counselors Inc.’s holdings in Kontoor Brands were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in KTB. Sanctuary Advisors LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at about $332,000. Janus Henderson Group PLC lifted its holdings in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after acquiring an additional 11,337 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 acquiring an additional 7,445 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during 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 last quarter. Finally, Level Wealth Management LLC acquired a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $350,000. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KTB. Barclays reduced their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. UBS Group lowered 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. Finally, Wells Fargo & Company dropped their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Trading Down 2.5 %

Shares of KTB stock opened at $63.78 on Friday. The firm has a market capitalization of $3.53 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The stock has a fifty day moving average of $76.20 and a two-hundred day moving average of $81.60.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue 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. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.26%. Kontoor Brands’s dividend payout ratio is presently 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.