Community Bank of Raymore Makes New $222,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Community Bank of Raymore acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,594 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds have also modified their holdings of KTB. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at about $30,000. Kennebec Savings Bank purchased a new position in shares of Kontoor Brands in the 3rd quarter valued at approximately $32,000. Farther Finance Advisors LLC increased 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 valued at $32,000 after purchasing an additional 274 shares during the period. Fortitude Family Office LLC raised its stake in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands during the third quarter worth $48,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kontoor Brands

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following 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 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KTB shares. Guggenheim upped their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays boosted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. UBS Group raised 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. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Performance

KTB opened at $86.10 on Monday. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $94.82. The stock has a market cap of $4.75 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.04 and a beta of 1.20. The stock’s 50 day simple moving average is $88.47 and its 200 day simple moving average is $79.54. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were given a $0.52 dividend. The ex-dividend date was Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.42%. Kontoor Brands’s dividend payout ratio is currently 46.85%.

Kontoor Brands Company 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.