New York State Teachers Retirement System Raises Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

New York State Teachers Retirement System boosted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 6.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 76,066 shares of the company’s stock after acquiring an additional 4,613 shares during the period. New York State Teachers Retirement System’s holdings in Kontoor Brands were worth $6,497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vest Financial LLC grew its position in shares of Kontoor Brands by 47.7% in the fourth quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock valued at $2,413,000 after purchasing an additional 9,121 shares during the period. Tectonic Advisors LLC purchased a new position in Kontoor Brands during the fourth quarter worth about $497,000. Hodges Capital Management Inc. purchased a new position in Kontoor Brands during the fourth quarter worth about $3,246,000. Jennison Associates LLC raised its stake in Kontoor Brands by 4.6% during the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after purchasing an additional 34,652 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in Kontoor Brands during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Up 4.2 %

KTB stock opened at $89.33 on Thursday. The company has a fifty day moving average price of $87.13 and a 200 day moving average price of $82.73. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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 given a dividend of $0.52 per share. 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 2.33%. Kontoor Brands’s payout ratio is currently 46.85%.

Analyst Ratings Changes

A number of research firms have recently issued reports on KTB. Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group cut their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays upped their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.67.

Kontoor Brands Company 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.