Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners cut its stake in Kontoor Brands, Inc. (NYSE:KTB) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,709 shares of the company’s stock after selling 157 shares during the quarter. Coston McIsaac & Partners’ holdings in Kontoor Brands were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its holdings in Kontoor Brands by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $929,000 after acquiring an additional 154 shares during the period. SG Americas Securities LLC increased its position in Kontoor Brands by 5.0% during the second quarter. SG Americas Securities LLC now owns 3,544 shares of the company’s stock worth $234,000 after buying an additional 169 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Kontoor Brands by 3.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock worth $329,000 after buying an additional 175 shares during the period. Louisiana State Employees Retirement System increased its position in Kontoor Brands by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $1,654,000 after buying an additional 200 shares during the period. Finally, Hsbc Holdings PLC increased its position in Kontoor Brands by 2.2% during the second quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after buying an additional 203 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KTB shares. Wells Fargo & Company boosted their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus boosted their target price on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Barclays upped their price objective on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. UBS Group upped their price objective on Kontoor Brands from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Guggenheim increased their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Kontoor Brands Trading Down 0.4 %

Shares of Kontoor Brands stock traded down $0.34 during trading hours on Wednesday, reaching $77.96. The stock had a trading volume of 71,981 shares, compared to its average volume of 478,718. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.08 and a beta of 1.20. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. Kontoor Brands, Inc. has a 1 year low of $39.90 and a 1 year high of $84.21. The firm has a 50 day simple moving average of $76.67 and a two-hundred day simple moving average of $70.22.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. During the same quarter last year, the firm earned $0.77 EPS. Kontoor Brands’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were given a $0.50 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.57%. Kontoor Brands’s payout ratio is 50.63%.

Kontoor Brands Company 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.