Corebridge Financial Inc. reduced its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 8.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 29,122 shares of the company’s stock after selling 2,612 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Kontoor Brands worth $2,487,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Kontoor Brands by 67.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after acquiring an additional 116,000 shares during the period. Barclays PLC raised its stake in shares of Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Kontoor Brands in the fourth quarter valued at about $6,314,000. Hillsdale Investment Management Inc. bought a new stake in shares of Kontoor Brands in the fourth quarter valued at about $4,774,000. Finally, Pacer Advisors Inc. boosted its position in shares of Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after buying an additional 44,287 shares during the period. Institutional investors own 93.06% of the company’s stock.
Wall Street Analyst Weigh In
KTB has been the topic of several research reports. Wells Fargo & Company cut their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group lowered their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.50.
Get Our Latest Research Report on KTB
Kontoor Brands Stock Performance
Shares of KTB opened at $64.66 on Wednesday. The company has a market cap of $3.58 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The firm has a 50-day moving average of $75.26 and a 200-day moving average of $81.61. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. 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 (NYSE:KTB – Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.
Kontoor Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio is 47.60%.
Kontoor Brands Company Profile
(Free Report)
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.
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