Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Skba Capital Management LLC

Skba Capital Management LLC decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 31.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,384 shares of the company’s stock after selling 85,260 shares during the quarter. Kontoor Brands makes up approximately 2.5% of Skba Capital Management LLC’s holdings, making the stock its 8th biggest holding. Skba Capital Management LLC’s holdings in Kontoor Brands were worth $15,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Kontoor Brands during the fourth quarter valued at approximately $17,630,000. JPMorgan Chase & Co. grew its stake in Kontoor Brands by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock worth $72,574,000 after buying an additional 188,001 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Kontoor Brands by 67.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 289,000 shares of the company’s stock worth $24,626,000 after buying an additional 116,000 shares during the last quarter. Walleye Capital LLC acquired a new stake in Kontoor Brands in the third quarter worth $8,479,000. Finally, Schroder Investment Management Group acquired a new position in shares of Kontoor Brands during the fourth quarter valued at $7,512,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KTB. Wells Fargo & Company dropped their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays decreased their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Kontoor Brands Trading Down 2.5 %

Kontoor Brands stock opened at $63.78 on Monday. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market capitalization of $3.53 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The firm has a 50 day simple moving average of $76.20 and a 200-day simple moving average of $81.74.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same period last year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

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.