UMB Bank n.a. Grows Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

UMB Bank n.a. boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,305 shares of the company’s stock after buying an additional 210 shares during the period. UMB Bank n.a. owned 0.09% of Kontoor Brands worth $4,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Kontoor Brands by 1.2% in the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after acquiring an additional 26,759 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kontoor Brands by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock worth $82,707,000 after purchasing an additional 60,926 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after purchasing an additional 15,058 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after purchasing an additional 320,117 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Kontoor Brands by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock worth $54,089,000 after purchasing an additional 17,974 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the transaction, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $86.10 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $94.82. The business has a 50 day moving average price of $88.39 and a two-hundred day moving average price of $79.69. The firm has a market cap of $4.75 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20.

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 analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 earnings per share. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were given a dividend of $0.52 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.42%. Kontoor Brands’s dividend payout ratio (DPR) is presently 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.