Maryland State Retirement & Pension System Reduces Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Maryland State Retirement & Pension System trimmed its position in Kontoor Brands, Inc. (NYSE:KTB) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,712 shares of the company’s stock after selling 212 shares during the period. Maryland State Retirement & Pension System’s holdings in Kontoor Brands were worth $1,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of KTB. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the fourth quarter worth about $29,000. Fortitude Family Office LLC raised its stake in shares of Kontoor Brands by 407.3% in the fourth 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 raised its stake in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after buying an additional 503 shares during the period. GAMMA Investing LLC raised its stake in shares of Kontoor Brands by 26.0% in the fourth 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. Finally, Tompkins Financial Corp bought a new position in shares of Kontoor Brands in the fourth quarter worth about $98,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Up 1.2 %

Shares of KTB opened at $63.68 on Friday. The business’s 50 day moving average is $78.25 and its 200 day moving average is $81.94. The company has a market capitalization of $3.52 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $1.28 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Analyst Ratings Changes

Several research analysts have recently commented on KTB shares. UBS Group decreased their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their price objective 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. Finally, Barclays decreased their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

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.