Kontoor Brands, Inc. (NYSE:KTB) Stock Position Decreased by Prudent Man Advisors LLC

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

A number of other institutional investors have also modified their holdings of KTB. International Assets Investment Management LLC grew its position in shares of Kontoor Brands by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock valued at $2,341,000 after buying an additional 28,273 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Kontoor Brands by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,432 shares of the company’s stock valued at $3,797,000 after purchasing an additional 375 shares during the period. US Bancorp DE boosted its stake in Kontoor Brands by 24.1% during the 3rd quarter. US Bancorp DE now owns 2,685 shares of the company’s stock valued at $220,000 after purchasing an additional 522 shares during the period. Farther Finance Advisors LLC boosted its stake in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, James Investment Research Inc. acquired a new position in Kontoor Brands during the 3rd quarter valued at about $2,016,000. Institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

KTB has been the subject of a number of analyst reports. UBS Group reduced their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday. Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $93.17.

Kontoor Brands Trading Down 3.3 %

Shares of NYSE:KTB opened at $65.08 on Friday. The company has a 50 day moving average of $85.61 and a 200-day moving average of $83.09. The firm has a market cap 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. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The company 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%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Monday, March 10th. 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.