Mutual of America Capital Management LLC Acquires 355 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Mutual of America Capital Management LLC increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTBGet Rating) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,855 shares of the company’s stock after buying an additional 355 shares during the period. Mutual of America Capital Management LLC’s holdings in Kontoor Brands were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Alliancebernstein L.P. raised its stake in shares of Kontoor Brands by 1.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,212,944 shares of the company’s stock worth $113,413,000 after buying an additional 28,943 shares during the last quarter. State Street Corp grew its holdings in Kontoor Brands by 1.2% during the fourth quarter. State Street Corp now owns 1,811,619 shares of the company’s stock valued at $92,845,000 after purchasing an additional 21,899 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Kontoor Brands by 353.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 928,314 shares of the company’s stock valued at $47,576,000 after purchasing an additional 723,794 shares during the period. JPMorgan Chase & Co. grew its holdings in Kontoor Brands by 49.4% during the fourth quarter. JPMorgan Chase & Co. now owns 811,262 shares of the company’s stock valued at $41,577,000 after purchasing an additional 268,201 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Kontoor Brands by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 811,174 shares of the company’s stock valued at $41,572,000 after purchasing an additional 2,253 shares during the period. 99.18% of the stock is owned by institutional investors.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $37.04 on Tuesday. The company’s fifty day simple moving average is $35.75 and its 200-day simple moving average is $41.22. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 4.29. The firm has a market cap of $2.08 billion, a PE ratio of 10.23, a P/E/G ratio of 1.04 and a beta of 1.14. Kontoor Brands, Inc. has a 12 month low of $30.98 and a 12 month high of $61.24.

Kontoor Brands (NYSE:KTBGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $679.70 million for the quarter, compared to analyst estimates of $655.65 million. Kontoor Brands had a net margin of 8.46% and a return on equity of 138.25%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Equities research analysts expect that Kontoor Brands, Inc. will post 4.38 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, September 9th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Thursday, September 8th. Kontoor Brands’s dividend payout ratio is presently 50.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KTB. Barclays cut shares of Kontoor Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $40.00 in a report on Wednesday, June 8th. UBS Group decreased their price objective on shares of Kontoor Brands from $78.00 to $50.00 in a report on Friday, July 15th. TheStreet upgraded shares of Kontoor Brands from a “c” rating to a “b” rating in a report on Friday, May 13th. William Blair cut shares of Kontoor Brands to a “hold” rating and set a $43.00 price target for the company. in a report on Monday, July 25th. Finally, Wells Fargo & Company assumed coverage on shares of Kontoor Brands in a report on Monday, July 11th. They issued an “overweight” rating and a $40.00 price target for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.83.

Kontoor Brands Profile

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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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