Teacher Retirement System of Texas Has $1.90 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Teacher Retirement System of Texas cut its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 70.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,559 shares of the company's stock after selling 69,205 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Kontoor Brands worth $1,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KTB. Charles Schwab Investment Management Inc. grew its position in shares of Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after purchasing an additional 35,932 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $6,314,000. Amundi grew its position in shares of Kontoor Brands by 33.0% in the 4th quarter. Amundi now owns 3,869 shares of the company's stock valued at $340,000 after purchasing an additional 960 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kontoor Brands by 25.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,029 shares of the company's stock valued at $1,284,000 after purchasing an additional 3,005 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Kontoor Brands by 3.8% in the 4th quarter. HighTower Advisors LLC now owns 6,328 shares of the company's stock valued at $540,000 after purchasing an additional 231 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KTB. UBS Group upped their price target on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. 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. Barclays upped their price target on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus reduced 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. One research analyst has rated the stock with a hold rating and five have issued 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 Stock Down 1.5%

Shares of NYSE KTB traded down $1.00 during trading hours on Monday, hitting $66.60. The company had a trading volume of 696,968 shares, compared to its average volume of 574,786. The stock has a market capitalization of $3.70 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. 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 1-year low of $50.00 and a 1-year high of $96.80. The firm's 50 day moving average is $68.52 and its 200-day moving average is $71.15.

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

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.12%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands's dividend payout ratio is 50.98%.

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.