State of Alaska Department of Revenue Sells 965 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Posted by Defense World Staff on Oct 15th, 2023

State of Alaska Department of Revenue reduced its stake in Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,832 shares of the company’s stock after selling 965 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Kontoor Brands worth $1,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC acquired a new position in Kontoor Brands in the 1st quarter worth $32,000. Quarry LP acquired a new position in Kontoor Brands in the 1st quarter worth $52,000. Ronald Blue Trust Inc. boosted its stake in Kontoor Brands by 99.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 1,426 shares of the company’s stock worth $57,000 after purchasing an additional 711 shares during the period. Gyon Technologies Capital Management LP acquired a new position in Kontoor Brands in the 4th quarter worth $58,000. Finally, Bartlett & Co. LLC boosted its stake in Kontoor Brands by 4,400.0% in the 2nd quarter. Bartlett & Co. LLC now owns 1,575 shares of the company’s stock worth $66,000 after purchasing an additional 1,540 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Kontoor Brands from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and set a $63.00 price target on shares of Kontoor Brands in a research report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.29.

View Our Latest Report on KTB

Kontoor Brands Stock Down 0.7 %

Shares of KTB stock opened at $43.04 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.98 and a current ratio of 2.60. The firm’s 50-day moving average is $45.04 and its 200-day moving average is $43.47. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.17 and a beta of 1.11. Kontoor Brands, Inc. has a 52-week low of $33.52 and a 52-week high of $53.83.

Kontoor Brands (NYSE:KTB – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $616.01 million for the quarter, compared to analysts’ expectations of $607.52 million. Kontoor Brands had a net margin of 7.84% and a return on equity of 82.45%. Kontoor Brands’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.69 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.46%. Kontoor Brands’s payout ratio is 53.19%.

Kontoor Brands Company Profile

(Free Report)

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. It licenses and sells apparel under the Rock & Republic brad name. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.