Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,493 shares of the company’s stock after buying an additional 483 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kontoor Brands were worth $451,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Kontoor Brands by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after purchasing an additional 20,964 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Kontoor Brands by 60.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,602,908 shares of the company’s stock valued at $100,054,000 after buying an additional 601,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kontoor Brands by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock worth $71,496,000 after purchasing an additional 35,637 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Kontoor Brands by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock worth $38,315,000 after purchasing an additional 22,141 shares in the last quarter. Finally, AMG National Trust Bank lifted its stake in Kontoor Brands by 18.5% in the 4th quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock worth $26,335,000 after purchasing an additional 65,990 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kontoor Brands

In related news, CEO Scott H. Baxter sold 29,212 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the completion of the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Susan Denise Sumner sold 4,713 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $72.36, for a total value of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott H. Baxter sold 29,212 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the completion of the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Kontoor Brands Stock Performance

NYSE:KTB opened at $68.73 on Friday. The company has a fifty day simple moving average of $68.93 and a two-hundred day simple moving average of $63.02. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands, Inc. has a 52 week low of $39.88 and a 52 week high of $74.90.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Barclays lifted their target price on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

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.