Handelsbanken Fonder AB decreased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) by 32.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,892 shares of the company's stock after selling 4,800 shares during the quarter. Handelsbanken Fonder AB's holdings in Kontoor Brands were worth $409,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Cullen Capital Management LLC acquired a new stake in shares of Kontoor Brands in the 1st quarter valued at about $8,238,000. Alliancebernstein L.P. lifted its position in Kontoor Brands by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 2,212,944 shares of the company's stock worth $113,413,000 after acquiring an additional 28,943 shares during the period. State Street Corp raised its stake in shares of Kontoor Brands by 1.2% during the 4th quarter. State Street Corp now owns 1,811,619 shares of the company's stock worth $92,845,000 after buying an additional 21,899 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Kontoor Brands by 2.6% during the 1st quarter. Jennison Associates LLC now owns 1,226,979 shares of the company's stock worth $50,736,000 after buying an additional 31,330 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Kontoor Brands by 20.3% during the 1st quarter. JPMorgan Chase & Co. now owns 976,345 shares of the company's stock worth $40,371,000 after buying an additional 165,083 shares in the last quarter. 99.18% of the stock is owned by institutional investors and hedge funds.
Get Kontoor Brands alerts:Kontoor Brands Price Performance
Shares of NYSE:KTB opened at $37.62 on Friday. The business's fifty day moving average price is $36.96 and its two-hundred day moving average price is $39.91. The stock has a market cap of $2.08 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 1.07 and a beta of 1.14. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 2.06. Kontoor Brands, Inc. has a one year low of $30.98 and a one year high of $61.24.
Kontoor Brands (NYSE:KTB – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $613.50 million for the quarter, compared to analysts' expectations of $624.46 million. Kontoor Brands had a return on equity of 155.26% and a net margin of 9.52%. Kontoor Brands's quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, analysts forecast that Kontoor Brands, Inc. will post 4.45 EPS for the current fiscal year.Kontoor Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, September 8th. Kontoor Brands's dividend payout ratio (DPR) is 42.69%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group cut their target price on Kontoor Brands from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st. UBS Group cut their target price on Kontoor Brands from $78.00 to $50.00 in a research note on Friday, July 15th. TheStreet raised Kontoor Brands from a "c" rating to a "b" rating in a research note on Friday, May 13th. Williams Capital reaffirmed a "downgrade" rating on shares of Kontoor Brands in a research note on Monday, July 25th. Finally, Stifel Nicolaus dropped their price objective on Kontoor Brands from $45.00 to $38.00 in a research note on Wednesday, July 20th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.83.
Kontoor Brands Profile
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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.
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