Teacher Retirement System of Texas Lowers Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Teacher Retirement System of Texas cut its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 70.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,559 shares of the company's stock after selling 69,205 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Kontoor Brands worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of KTB. Moran Wealth Management LLC purchased a new position in shares of Kontoor Brands in the 1st quarter valued at $2,685,000. Blue Trust Inc. grew its stake in Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after buying an additional 274 shares during the last quarter. Ritholtz Wealth Management grew its stake in Kontoor Brands by 52.6% during the 1st quarter. Ritholtz Wealth Management now owns 10,342 shares of the company's stock worth $663,000 after buying an additional 3,566 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Kontoor Brands by 14.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,908 shares of the company's stock worth $315,000 after buying an additional 611 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in Kontoor Brands by 1.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 37,229 shares of the company's stock worth $2,387,000 after buying an additional 431 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Price Performance

NYSE KTB traded down $3.06 during trading hours on Friday, reaching $67.45. The company's stock had a trading volume of 663,558 shares, compared to its average volume of 574,295. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.63 and a beta of 1.12. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65. The company's 50-day moving average is $68.46 and its two-hundred day moving average is $71.28.

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

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.08%. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group boosted their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. 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 research note on Thursday, April 10th. Wells Fargo & Company boosted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Barclays boosted their target price on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $87.50.

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.