Louisiana State Employees Retirement System Makes New $1.56 Million Investment in Kontoor Brands, Inc. (NYSE:KTB)

Louisiana State Employees Retirement System purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,000 shares of the company's stock, valued at approximately $1,560,000.

A number of other large investors have also added to or reduced their stakes in KTB. Advisor Group Holdings Inc. raised its position in shares of Kontoor Brands by 7.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company's stock worth $295,000 after acquiring an additional 418 shares in the last quarter. Raymond James & Associates raised its position in shares of Kontoor Brands by 8.1% in the 1st quarter. Raymond James & Associates now owns 24,441 shares of the company's stock worth $1,011,000 after acquiring an additional 1,821 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Kontoor Brands by 4.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company's stock worth $442,000 after acquiring an additional 439 shares in the last quarter. Citigroup Inc. raised its position in shares of Kontoor Brands by 3.5% in the 1st quarter. Citigroup Inc. now owns 45,858 shares of the company's stock worth $1,895,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Kontoor Brands by 2.1% in the 1st quarter. Bank of Montreal Can now owns 17,999 shares of the company's stock worth $771,000 after acquiring an additional 362 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Edward Jones lowered Kontoor Brands from a "buy" rating to a "hold" rating in a research report on Friday, January 26th. Barclays decreased their target price on Kontoor Brands from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their target price on Kontoor Brands from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Wells Fargo & Company boosted their target price on Kontoor Brands from $56.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, December 22nd. Finally, UBS Group boosted their target price on Kontoor Brands from $83.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $70.40.

Kontoor Brands Stock Up 1.9 %

KTB stock traded up $1.06 during mid-day trading on Friday, reaching $56.45. 492,298 shares of the company traded hands, compared to its average volume of 434,228. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.47 and a beta of 1.13. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05. Kontoor Brands, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $64.49. The firm's 50 day moving average price is $59.15 and its 200 day moving average price is $55.96.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $669.80 million for the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. As a group, equities research analysts predict that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a yield of 3.54%. Kontoor Brands's dividend payout ratio (DPR) is currently 49.26%.

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.