Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,632 shares of the company’s stock after selling 2,193 shares during the period. Illinois Municipal Retirement Fund’s holdings in Kontoor Brands were worth $1,665,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC lifted its stake in Kontoor Brands by 1.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after purchasing an additional 172 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Kontoor Brands by 0.5% during the first quarter. New York State Teachers Retirement System now owns 68,653 shares of the company’s stock worth $4,136,000 after acquiring an additional 339 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Kontoor Brands during the fourth quarter worth $25,000. Oakworth Capital Inc. increased its position in shares of Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock worth $49,000 after acquiring an additional 478 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Kontoor Brands by 2.1% during the fourth quarter. Yousif Capital Management LLC now owns 25,430 shares of the company’s stock worth $1,587,000 after acquiring an additional 514 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 0.1 %

Shares of NYSE:KTB traded up $0.04 during midday trading on Friday, hitting $65.29. 338,575 shares of the company’s stock traded hands, compared to its average volume of 433,831. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.42 and a current ratio of 2.70. The company has a market cap of $3.65 billion, a PE ratio of 16.53, a P/E/G ratio of 1.73 and a beta of 1.16. The firm’s fifty day moving average price is $68.87 and its two-hundred day moving average price is $62.88. Kontoor Brands, Inc. has a twelve month low of $38.49 and a twelve month high of $74.90.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.73 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KTB shares. Barclays increased their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Buying and Selling

In other news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $72.36, for a total value of $341,032.68. Following the completion of the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott H. Baxter sold 29,212 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Kontoor Brands Profile

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.