Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Optimist Retirement Group LLC

Optimist Retirement Group LLC trimmed its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 32.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,983 shares of the company’s stock after selling 1,915 shares during the quarter. Optimist Retirement Group LLC’s holdings in Kontoor Brands were worth $263,000 at the end of the most recent quarter.

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

Kontoor Brands Stock Performance

Shares of KTB stock opened at $77.13 on Thursday. The stock’s fifty day simple moving average is $71.07 and its 200-day simple moving average is $66.57. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.87 and a beta of 1.20. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $78.97.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data 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. The business had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s payout ratio is 50.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Guggenheim raised their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. 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. Finally, Stifel Nicolaus lifted their price objective on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.83.

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.