Illinois Municipal Retirement Fund Acquires 608 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Illinois Municipal Retirement Fund boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,407 shares of the company’s stock after acquiring an additional 608 shares during the period. Illinois Municipal Retirement Fund’s holdings in Kontoor Brands were worth $2,341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KTB. Jennison Associates LLC boosted its holdings in Kontoor Brands by 73.2% during the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after buying an additional 320,117 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at approximately $8,479,000. Barclays PLC boosted its stake in Kontoor Brands by 316.3% during the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after acquiring an additional 77,137 shares during the last quarter. LMR Partners LLP bought a new position in Kontoor Brands during the 3rd quarter worth approximately $4,799,000. Finally, Pacer Advisors Inc. grew its holdings in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after purchasing an additional 44,287 shares during the period. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

KTB has been the topic of several analyst reports. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim raised their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. UBS Group decreased their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Barclays decreased 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.17.

Kontoor Brands Price Performance

KTB stock opened at $67.50 on Friday. The stock has a 50-day moving average price of $86.05 and a two-hundred day moving average price of $83.04. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The stock has a market cap of $3.72 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

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

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.08%. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

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.