Kontoor Brands, Inc. $KTB Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,099 shares of the company’s stock after acquiring an additional 11,385 shares during the quarter. California State Teachers Retirement System’s holdings in Kontoor Brands were worth $4,295,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Transamerica Financial Advisors LLC increased its stake in shares of Kontoor Brands by 335.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock valued at $25,000 after purchasing an additional 312 shares in the last quarter. Torren Management LLC purchased a new position in Kontoor Brands during the fourth quarter worth approximately $27,000. Private Trust Co. NA acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $31,000. Hantz Financial Services Inc. grew its holdings in Kontoor Brands by 196.2% in the fourth quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock valued at $34,000 after purchasing an additional 365 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $35,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. The trade was a 9.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $77.19 on Friday. The firm has a 50-day simple moving average of $81.00 and a 200-day simple moving average of $72.91. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 15.62 and a beta of 0.88. Kontoor Brands, Inc. has a 52 week low of $56.19 and a 52 week high of $88.96.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The business had revenue of $613.32 million during the quarter, compared to analysts’ expectations of $784.76 million. Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. On average, equities analysts predict that Kontoor Brands, Inc. will post 5.22 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.7%. Kontoor Brands’s dividend payout ratio (DPR) is 42.91%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KTB. JPMorgan Chase & Co. upped their target price on Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays increased their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings cut shares of Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $92.70.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.