Russell Investments Group Ltd. Sells 1,570 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Russell Investments Group Ltd. cut its position in Kontoor Brands, Inc. (NYSE:KTB) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,614 shares of the company’s stock after selling 1,570 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Kontoor Brands worth $5,006,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KTB. Norges Bank bought a new position in shares of Kontoor Brands in the 4th quarter valued at about $17,630,000. Geode Capital Management LLC increased its position in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after buying an additional 199,601 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after buying an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in Kontoor Brands by 67.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock valued at $24,626,000 after buying an additional 116,000 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of Kontoor Brands during the 4th quarter worth approximately $7,512,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

NYSE:KTB opened at $55.95 on Tuesday. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The firm’s 50-day simple moving average is $67.92 and its 200 day simple moving average is $79.96. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.72%. Kontoor Brands’s payout ratio is 47.60%.

Analyst Ratings Changes

KTB has been the subject of several research reports. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays decreased their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus cut their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.