Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,764 shares of the company's stock after acquiring an additional 37,913 shares during the quarter. Teacher Retirement System of Texas owned 0.18% of Kontoor Brands worth $8,435,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KTB. HHM Wealth Advisors LLC bought a new stake in shares of Kontoor Brands during the fourth quarter worth $29,000. Fortitude Family Office LLC increased its stake 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 buying an additional 334 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after buying an additional 503 shares in the last quarter. GAMMA Investing LLC grew its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after acquiring an additional 182 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Kontoor Brands during the fourth quarter worth approximately $98,000. Institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KTB. Wells Fargo & Company lowered their price target on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays lowered their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group reduced their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.50.

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Kontoor Brands Stock Performance

KTB stock traded up $1.01 during trading on Thursday, reaching $65.42. The company had a trading volume of 651,720 shares, compared to its average volume of 495,062. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. 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 twelve month low of $52.95 and a twelve month high of $96.80. The firm has a 50-day simple moving average of $77.03 and a 200-day simple moving average of $81.77.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the business earned $1.28 EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is currently 47.60%.

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.