Texas Permanent School Fund Corp Has $2.74 Million Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Texas Permanent School Fund Corp lowered its position in Kontoor Brands, Inc. (NYSE:KTB) by 5.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 41,470 shares of the company’s stock after selling 2,290 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Kontoor Brands worth $2,743,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in Kontoor Brands by 1.1% in the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $929,000 after buying an additional 154 shares during the period. SG Americas Securities LLC grew its stake 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 purchasing an additional 169 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Kontoor Brands by 3.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock worth $329,000 after purchasing an additional 175 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Kontoor Brands by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $1,654,000 after buying an additional 200 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in shares of Kontoor Brands by 22.7% during the 1st quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after buying an additional 293 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Guggenheim lifted their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.83.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $76.65 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The firm has a 50-day moving average of $70.53 and a 200-day moving average of $66.37. Kontoor Brands, Inc. has a one year low of $39.90 and a one year high of $76.78. The company has a market cap of $4.27 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.87 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. 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 business posted $0.77 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.61%. Kontoor Brands’s dividend payout ratio (DPR) is currently 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.