New York State Teachers Retirement System Boosts Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

New York State Teachers Retirement System increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,066 shares of the company's stock after buying an additional 4,613 shares during the period. New York State Teachers Retirement System owned about 0.14% of Kontoor Brands worth $6,497,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KTB. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands during the fourth quarter valued at $29,000. Northwest Investment Counselors LLC purchased a new position in Kontoor Brands in the third quarter valued at about $30,000. Farther Finance Advisors LLC grew its stake in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 shares during the last quarter. Kennebec Savings Bank purchased a new position in Kontoor Brands in the third quarter valued at about $32,000. Finally, Fortitude Family Office LLC grew its stake in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded down $1.29 on Friday, reaching $88.25. 320,952 shares of the stock were exchanged, compared to its average volume of 545,838. The business has a 50 day moving average price of $87.14 and a two-hundred day moving average price of $82.78. 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 firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.12 and a beta of 1.19. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 46.85%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KTB. Barclays lifted their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a "buy" rating to a "hold" rating and raised their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group lowered their price target on Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Guggenheim raised their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

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.