Choreo LLC Has $214,000 Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Choreo LLC lessened its stake in Kontoor Brands, Inc. (NYSE:KTB) by 68.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,331 shares of the company’s stock after selling 7,080 shares during the quarter. Choreo LLC’s holdings in Kontoor Brands were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Optimist Retirement Group LLC increased its position in Kontoor Brands by 29.3% in the 1st quarter. Optimist Retirement Group LLC now owns 3,572 shares of the company’s stock valued at $229,000 after acquiring an additional 809 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Kontoor Brands by 129.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,580 shares of the company’s stock valued at $2,347,000 after acquiring an additional 20,625 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Kontoor Brands in the 1st quarter valued at about $2,693,000. Jennison Associates LLC increased its position in Kontoor Brands by 10.7% in the 1st quarter. Jennison Associates LLC now owns 876,666 shares of the company’s stock valued at $56,221,000 after acquiring an additional 84,588 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in Kontoor Brands by 238.7% in the 1st quarter. Tectonic Advisors LLC now owns 19,726 shares of the company’s stock valued at $1,265,000 after acquiring an additional 13,902 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Down 5.5%

Kontoor Brands stock opened at $57.47 on Thursday. The company’s 50 day simple moving average is $66.58 and its 200 day simple moving average is $69.43. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.47 and a beta of 1.12. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The business had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter last year, the firm earned $1.16 EPS. Kontoor Brands’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands’s payout ratio is currently 50.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KTB shares. The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the company a “buy” rating in a research report on Tuesday, June 10th. Stifel Nicolaus lowered their price target 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. UBS Group lifted their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Finally, Barclays lifted their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and an average price target of $87.50.

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.