New York State Teachers Retirement System Sells 3,800 Shares of Kontoor Brands, Inc. (NYSE:KTB)

New York State Teachers Retirement System lessened its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,266 shares of the company's stock after selling 3,800 shares during the period. New York State Teachers Retirement System owned about 0.13% of Kontoor Brands worth $4,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KTB. Marshall Wace LLP increased its position in Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock worth $49,524,000 after buying an additional 285,897 shares during the last quarter. Man Group plc boosted its position in shares of Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company's stock valued at $39,807,000 after buying an additional 253,360 shares during the last quarter. Norges Bank bought a new stake in shares of Kontoor Brands during the 4th quarter valued at $17,630,000. Geode Capital Management LLC grew its holdings in Kontoor Brands by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after buying an additional 199,601 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Kontoor Brands by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company's stock worth $72,574,000 after acquiring an additional 188,001 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Up 0.2%

Shares of NYSE KTB traded up $0.15 during trading hours on Tuesday, hitting $71.04. 670,446 shares of the stock were exchanged, compared to its average volume of 569,933. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a market cap of $3.95 billion, a PE ratio of 17.41, a PEG ratio of 1.73 and a beta of 1.12. The firm has a fifty day moving average price of $67.79 and a 200-day moving average price of $71.75.

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

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 10th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 2.93%. Kontoor Brands's payout ratio is 50.98%.

Wall Street Analysts Forecast Growth

KTB has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays lifted their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th. UBS Group raised their price target on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target 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.