Illinois Municipal Retirement Fund Cuts Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Illinois Municipal Retirement Fund reduced its position in Kontoor Brands, Inc. (NYSE:KTB) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,825 shares of the company’s stock after selling 220 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kontoor Brands were worth $1,862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC boosted its holdings in shares of Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after purchasing an additional 172 shares in the last quarter. Kinloch Capital LLC boosted its holdings in Kontoor Brands by 0.6% during the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock valued at $1,599,000 after acquiring an additional 209 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Kontoor Brands by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock valued at $705,000 after acquiring an additional 250 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Kontoor Brands by 2.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after acquiring an additional 279 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Kontoor Brands by 2.4% during the 3rd quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock valued at $631,000 after acquiring an additional 335 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group boosted their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Barclays dropped their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 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 price target of $70.40.

Kontoor Brands Trading Down 0.1 %

KTB opened at $61.79 on Friday. The stock has a market cap of $3.45 billion, a PE ratio of 15.22, a PEG ratio of 1.64 and a beta of 1.13. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05. The business has a 50 day moving average of $59.00 and a 200-day moving average of $56.34. Kontoor Brands, Inc. has a 52 week low of $37.10 and a 52 week high of $64.49.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $669.80 million for the quarter, compared to analysts’ expectations of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. Equities research analysts predict that Kontoor Brands, Inc. will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, June 10th. Kontoor Brands’s payout ratio is 49.26%.

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.