Legal & General Group Plc Decreases Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Legal & General Group Plc lessened its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,673 shares of the company’s stock after selling 1,816 shares during the period. Legal & General Group Plc owned about 0.26% of Kontoor Brands worth $12,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in Kontoor Brands in the third quarter valued at about $332,000. Principal Financial Group Inc. lifted its position in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after acquiring an additional 7,445 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the period. Charles Schwab Investment Management Inc. grew its position in Kontoor Brands by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after acquiring an additional 35,932 shares in the last quarter. Finally, Level Wealth Management LLC purchased a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $350,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analysts Set New Price Targets

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

Kontoor Brands Price Performance

KTB opened at $53.65 on Thursday. The company has a market capitalization of $2.97 billion, a P/E ratio of 12.08, a PEG ratio of 2.12 and a beta of 0.93. The company has a 50-day moving average of $66.63 and a 200-day moving average of $79.61. 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 $50.00 and a 1-year high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same period in the previous year, the company earned $1.28 earnings per share. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio is currently 47.60%.

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.