Louisiana State Employees Retirement System Has $2.05 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

Louisiana State Employees Retirement System lowered its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Kontoor Brands were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Kontoor Brands by 41.0% in the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock valued at $181,000 after acquiring an additional 644 shares in the last quarter. Vest Financial LLC boosted its position in Kontoor Brands by 16.6% during the third quarter. Vest Financial LLC now owns 19,131 shares of the company’s stock valued at $1,565,000 after purchasing an additional 2,720 shares during the last quarter. Everence Capital Management Inc. grew its stake in Kontoor Brands by 39.3% in the third quarter. Everence Capital Management Inc. now owns 6,660 shares of the company’s stock valued at $545,000 after purchasing an additional 1,880 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $30,000. Finally, International Assets Investment Management LLC raised its stake in shares of Kontoor Brands by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after purchasing an additional 28,273 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $83.60 on Friday. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.08 and a beta of 1.19. 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, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The stock’s 50 day moving average is $87.39 and its 200-day moving average is $82.22.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.49%. Kontoor Brands’s dividend payout ratio is 46.85%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KTB. Barclays boosted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group lifted their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands 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.