Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 41.1% during the second quarter, HoldingsChannel reports. The firm owned 26,110 shares of the company’s stock after selling 18,251 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kontoor Brands were worth $1,727,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KTB. Quest Partners LLC purchased a new stake in Kontoor Brands during the 2nd quarter worth $27,000. Principal Securities Inc. acquired a new stake in shares of Kontoor Brands during the fourth quarter valued at about $32,000. Signaturefd LLC grew its stake in shares of Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after acquiring an additional 324 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after acquiring an additional 293 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Kontoor Brands by 72.4% in the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after acquiring an additional 660 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $78.96 on Wednesday. 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 $4.41 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Kontoor Brands, Inc. has a twelve month low of $39.90 and a twelve month high of $79.46. The business has a 50 day simple moving average of $72.03 and a 200-day simple moving average of $67.11.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share 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 in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.53%. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KTB shares. Guggenheim raised their price objective on 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 lifted their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Barclays upped their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a 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. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average target price of $78.83.

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.