Y Intercept Hong Kong Ltd Raises Position in Kontoor Brands, Inc. (NYSE:KTB)

Y Intercept Hong Kong Ltd raised its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 156.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,652 shares of the company’s stock after buying an additional 7,715 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Kontoor Brands were worth $1,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands in the third quarter valued at approximately $30,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands during the third quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its holdings in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands in the third quarter worth $48,000. 93.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KTB. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim lifted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group raised their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insider Buying and Selling at Kontoor Brands

In related news, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the transaction, the chief executive officer now owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Kontoor Brands Stock Down 0.1 %

KTB stock opened at $89.23 on Friday. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $94.82. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.33 and a beta of 1.20. The business’s 50 day moving average price is $85.93 and its two-hundred day moving average price is $76.37. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for 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 revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, analysts forecast that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 46.85%.

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.