Mesirow Institutional Investment Management Inc. Sells 42,328 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Mesirow Institutional Investment Management Inc. trimmed its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,325 shares of the company's stock after selling 42,328 shares during the period. Kontoor Brands makes up approximately 1.3% of Mesirow Institutional Investment Management Inc.'s holdings, making the stock its 20th biggest holding. Mesirow Institutional Investment Management Inc. owned 0.35% of Kontoor Brands worth $16,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC grew its stake in Kontoor Brands by 35.6% in the third quarter. HighTower Advisors LLC now owns 6,097 shares of the company's stock valued at $497,000 after acquiring an additional 1,602 shares during the period. Barclays PLC lifted its holdings in shares of Kontoor Brands by 316.3% during 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 in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at approximately $332,000. Synovus Financial Corp bought a new stake in Kontoor Brands during the 3rd quarter worth approximately $220,000. Finally, GAMMA Investing LLC raised its holdings in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares during the period. Institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KTB. Barclays reduced their price target 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. Wells Fargo & Company lowered their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Stifel Nicolaus cut their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group decreased their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Stock Up 3.4 %

Shares of NYSE:KTB traded up $1.96 during midday trading on Wednesday, reaching $60.44. The company had a trading volume of 831,108 shares, compared to its average volume of 539,618. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The stock has a market cap of $3.34 billion, a PE ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business's 50 day moving average price is $64.53 and its 200 day moving average price is $78.94.

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, topping the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. Research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 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.