Louisiana State Employees Retirement System Sells 200 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Louisiana State Employees Retirement System decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kontoor Brands were worth $2,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in Kontoor Brands during the 3rd quarter worth $332,000. Janus Henderson Group PLC boosted its position in shares of Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after purchasing an additional 11,337 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after purchasing an additional 28,273 shares during the period. Natixis Advisors LLC increased its holdings in Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares during the last quarter. Finally, Fortitude Family Office LLC lifted 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 buying an additional 334 shares during the period. 93.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Trading Up 0.1 %

Shares of NYSE:KTB opened at $83.60 on Friday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.08 and a beta of 1.19. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company’s fifty day simple moving average is $87.39 and its 200 day simple moving average is $82.22. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 2.49%. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

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.