Skba Capital Management LLC Sells 85,260 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Skba Capital Management LLC cut its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 31.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,384 shares of the company’s stock after selling 85,260 shares during the quarter. Kontoor Brands comprises 2.5% of Skba Capital Management LLC’s portfolio, making the stock its 8th biggest position. Skba Capital Management LLC owned about 0.33% of Kontoor Brands worth $15,748,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KTB. Norges Bank acquired a new stake in Kontoor Brands during the 4th quarter worth approximately $17,630,000. JPMorgan Chase & Co. grew its stake in Kontoor Brands by 28.4% during the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock worth $72,574,000 after buying an additional 188,001 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Kontoor Brands by 67.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after acquiring an additional 116,000 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Kontoor Brands in the third quarter worth $8,479,000. Finally, Schroder Investment Management Group acquired a new position in shares of Kontoor Brands during the 4th quarter valued at $7,512,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several 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. UBS Group dropped their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays decreased their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $63.78 on Monday. 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, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The business has a 50 day moving average price of $76.20 and a two-hundred day moving average price of $81.74. The firm has a market cap of $3.53 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results 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 net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.26%. Kontoor Brands’s dividend payout ratio (DPR) is 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.