Kontoor Brands, Inc. (NYSE:KTB) Stake Reduced by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,884 shares of the company’s stock after selling 1,104 shares during the period. Rhumbline Advisers owned approximately 0.26% of Kontoor Brands worth $12,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at $29,000. Farther Finance Advisors LLC lifted its stake in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Kontoor Brands in the third quarter worth about $32,000. Fortitude Family Office LLC increased its position in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KTB shares. Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, UBS Group dropped their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Kontoor Brands Price Performance

KTB opened at $88.01 on Monday. The stock has a fifty day moving average price of $87.12 and a 200 day moving average price of $83.01. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.12 and a beta of 1.19.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. Kontoor Brands’s payout ratio is 46.85%.

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.