Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,735 shares of the company’s stock after selling 191 shares during the period. Amalgamated Bank’s holdings in Kontoor Brands were worth $1,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Kontoor Brands by 1.2% in the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after acquiring an additional 26,759 shares during the period. Pacer Advisors Inc. lifted its stake 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 grew its holdings in shares of Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after purchasing an additional 15,058 shares during the period. Jennison Associates LLC grew 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 worth $67,651,000 after purchasing an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position 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 worth $54,089,000 after purchasing an additional 17,974 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Down 3.0 %

Shares of KTB opened at $63.11 on Tuesday. The company’s 50-day simple moving average is $85.14 and its 200-day simple moving average is $83.13. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The stock has a market capitalization of $3.49 billion, a PE ratio of 14.21, a P/E/G ratio of 2.12 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for 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 firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. Analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.30%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Analyst Ratings Changes

A number of research firms have commented on KTB. Barclays decreased their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group decreased their price objective 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, 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and an average price target of $93.17.

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.