The Manufacturers Life Insurance Company Cuts Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

The Manufacturers Life Insurance Company decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,348 shares of the company’s stock after selling 886 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kontoor Brands were worth $2,592,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the period. GAMMA Investing LLC grew its holdings in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after purchasing an additional 182 shares in the last quarter. Fortitude Family Office LLC increased its stake in Kontoor Brands by 407.3% during the 4th 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. Ritholtz Wealth Management lifted its holdings in Kontoor Brands by 12.8% in the 4th quarter. Ritholtz Wealth Management now owns 6,776 shares of the company’s stock worth $579,000 after buying an additional 771 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in Kontoor Brands in the 4th quarter worth $98,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $68.62 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The business has a 50 day simple moving average of $60.87 and a 200-day simple moving average of $77.36.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.03%. Kontoor Brands’s dividend payout ratio is currently 50.98%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KTB shares. Barclays lifted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group upped their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

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.