Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC lessened its stake in Kontoor Brands, Inc. (NYSE:KTB) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,549 shares of the company’s stock after selling 266 shares during the quarter. Prudent Man Advisors LLC’s holdings in Kontoor Brands were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after purchasing an additional 26,759 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Kontoor Brands by 2.5% in the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after purchasing an additional 15,058 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock valued at $67,651,000 after acquiring an additional 34,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kontoor Brands by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock valued at $54,089,000 after acquiring an additional 17,974 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KTB. Wells Fargo & Company lifted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. UBS Group reduced their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.17.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $65.08 on Friday. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a market capitalization of $3.60 billion, a P/E ratio of 14.66, a P/E/G ratio of 2.12 and a beta of 1.19. The company’s fifty day moving average price is $85.61 and its two-hundred day moving average price is $83.09.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS 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 firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 yield of 3.20%. Kontoor Brands’s dividend payout ratio is currently 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.