Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. Sells 9,039 Shares

Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kontoor Brands Trading Up 3.2 %

NYSE:KTB traded up $2.60 during trading hours on Monday, hitting $84.25. The company had a trading volume of 779,400 shares, compared to its average volume of 486,869. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.09. The company has a 50-day moving average of $77.81 and a 200 day moving average of $71.57. The company has a market cap of $4.69 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.23 and a beta of 1.19. Kontoor Brands, Inc. has a 1 year low of $47.33 and a 1 year high of $89.76.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 EPS. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 45.05%.

Hedge Funds Weigh In On Kontoor Brands

Several large investors have recently modified their holdings of the business. Kennebec Savings Bank acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at $32,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Kontoor Brands by 3.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,940 shares of the company’s stock valued at $2,203,000 after purchasing an additional 830 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Kontoor Brands by 17.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,841 shares of the company’s stock valued at $560,000 after purchasing an additional 1,020 shares during the last quarter. Summit Global Investments acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at $1,446,000. Finally, Intact Investment Management Inc. lifted its stake in shares of Kontoor Brands by 17.8% in the 3rd quarter. Intact Investment Management Inc. now owns 30,400 shares of the company’s stock valued at $2,486,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim boosted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Barclays boosted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group boosted their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

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.