Comerica Bank Sells 13,911 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Comerica Bank decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,184 shares of the company's stock after selling 13,911 shares during the period. Comerica Bank owned about 0.11% of Kontoor Brands worth $5,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new stake in Kontoor Brands during the fourth quarter valued at approximately $1,175,000. Northern Trust Corp boosted its stake in Kontoor Brands by 9.8% in the 4th quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock valued at $95,973,000 after buying an additional 100,397 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in Kontoor Brands by 3.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock valued at $530,000 after buying an additional 202 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Kontoor Brands in the fourth quarter valued at $3,401,000. Finally, Quarry LP increased its position in shares of Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Up 0.1 %

Shares of NYSE:KTB opened at $63.47 on Tuesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a 50 day moving average of $60.63 and a 200-day moving average of $77.67. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Barclays reduced their price target on shares of Kontoor Brands from $93.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. UBS Group reduced their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Stifel Nicolaus dropped their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.40.

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.

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