Kennebec Savings Bank Purchases New Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 388 shares of the company’s stock, valued at approximately $32,000.

Several other large investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in Kontoor Brands by 10.9% during the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after purchasing an additional 201,399 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Kontoor Brands by 1.0% in the second quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company’s stock valued at $84,046,000 after buying an additional 12,019 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kontoor Brands by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock valued at $82,707,000 after buying an additional 60,926 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kontoor Brands by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock valued at $47,137,000 after buying an additional 7,526 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Kontoor Brands by 351.7% in the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock valued at $22,976,000 after buying an additional 270,427 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s 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 transaction, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s 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 transaction, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $27,748,177.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Kontoor Brands Stock Performance

NYSE:KTB opened at $90.38 on Tuesday. The stock has a market cap of $4.98 billion, a P/E ratio of 20.41, a PEG ratio of 2.33 and a beta of 1.19. The stock has a 50 day simple moving average of $79.10 and a 200 day simple moving average of $72.58. 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 1-year low of $47.33 and a 1-year high of $92.48.

Kontoor Brands (NYSE:KTB) last released 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. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same period last year, the firm posted $1.22 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. 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 (DPR) is 45.05%.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of recent analyst reports. Barclays raised 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, November 1st. Wells Fargo & Company raised 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. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group raised their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.