Oppenheimer & Co. Inc. Sells 730 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Oppenheimer & Co. Inc. decreased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,748 shares of the company’s stock after selling 730 shares during the quarter. Oppenheimer & Co. Inc. owned 0.13% of Kontoor Brands worth $4,878,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Kontoor Brands by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company’s stock worth $84,046,000 after acquiring an additional 12,019 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kontoor Brands by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock worth $71,496,000 after buying an additional 35,637 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Kontoor Brands by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock valued at $47,137,000 after buying an additional 7,526 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kontoor Brands by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock valued at $38,315,000 after acquiring an additional 22,141 shares during the last quarter. Finally, Norges Bank acquired a new position in Kontoor Brands during the fourth quarter worth about $23,695,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim raised their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Barclays raised their price objective on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.83.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $74.88 on Friday. The firm has a market cap of $4.17 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.87 and a beta of 1.20. Kontoor Brands, Inc. has a one year low of $39.90 and a one year high of $75.32. 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 stock’s 50 day moving average is $70.31 and its 200 day moving average is $66.18.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (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 business had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. Kontoor Brands’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.67%. Kontoor Brands’s payout ratio 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.