Choreo LLC Sells 7,080 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Key Points

• Choreo LLC significantly reduced its stake in Kontoor Brands by 68%, now holding 3,331 shares worth $214,000.
• Contemporary stock analysts have set price targets for Kontoor Brands ranging from $72.00 to $90.00, with an average price target of $87.50 and a consensus rating of "Moderate Buy".
• Kontoor Brands announced a quarterly dividend of $0.52, translating to an annual yield of 3.62% and a payout ratio of 50.98%.

Choreo LLC decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 68.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,331 shares of the company's stock after selling 7,080 shares during the period. Choreo LLC's holdings in Kontoor Brands were worth $214,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CX Institutional purchased a new stake in shares of Kontoor Brands in the first quarter valued at about $32,000. Huntington National Bank lifted its position in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. Quarry LP lifted its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Kontoor Brands by 23.4% during the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Stock Performance

NYSE KTB traded down $0.66 during trading hours on Friday, reaching $55.00. 1,393,052 shares of the company were exchanged, compared to its average volume of 721,124. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The business's 50 day simple moving average is $66.27 and its 200-day simple moving average is $69.23. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $3.06 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.38 and a beta of 1.12.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's dividend payout ratio (DPR) is currently 50.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KTB. Stifel Nicolaus decreased their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Barclays increased their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Wells Fargo & Company increased their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. UBS Group increased their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kontoor Brands presently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

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.