Nomura Holdings Inc. Sells 5,873 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Nomura Holdings Inc. lessened its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,146 shares of the company's stock after selling 5,873 shares during the quarter. Nomura Holdings Inc.'s holdings in Kontoor Brands were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after purchasing an additional 77,137 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Kontoor Brands by 12.8% during the fourth quarter. Ritholtz Wealth Management now owns 6,776 shares of the company's stock valued at $579,000 after buying an additional 771 shares during the period. Tompkins Financial Corp purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $98,000. Community Bank of Raymore purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $222,000. Finally, UMB Bank n.a. raised its stake in Kontoor Brands by 0.4% in the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company's stock worth $4,382,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on KTB. UBS Group lifted their price objective on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays raised their target price on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday. 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 note on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.00.

Kontoor Brands Stock Down 0.3%

KTB traded down $0.24 during midday trading on Thursday, reaching $70.98. The company's stock had a trading volume of 86,380 shares, compared to its average volume of 548,971. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The stock's 50-day moving average is $62.83 and its 200-day moving average is $77.04. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.12 and a beta of 1.05. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same quarter in the prior year, the business posted $1.16 EPS. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts expect 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 will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.93%. Kontoor Brands's payout ratio is presently 50.98%.

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.