Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. Sells 9,039 Shares

Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the transaction, the executive vice president now directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Kontoor Brands Stock Up 3.2 %

Shares of KTB traded up $2.60 during mid-day trading on Monday, reaching $84.25. The company’s stock had a trading volume of 779,400 shares, compared to its average volume of 486,869. Kontoor Brands, Inc. has a 12-month low of $47.33 and a 12-month high of $89.76. The stock has a market cap of $4.69 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.43. The company’s 50 day moving average is $77.81 and its 200 day moving average is $71.57.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. Equities analysts anticipate that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 2.47%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its position in Kontoor Brands by 44.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after acquiring an additional 7,466 shares during the period. Magnetar Financial LLC acquired a new stake in Kontoor Brands during the 1st quarter worth approximately $1,508,000. Sei Investments Co. lifted its position in Kontoor Brands by 78.9% during the 2nd quarter. Sei Investments Co. now owns 52,658 shares of the company’s stock worth $3,483,000 after acquiring an additional 23,223 shares during the period. American Century Companies Inc. lifted its position in Kontoor Brands by 48.7% during the 2nd quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock worth $2,387,000 after acquiring an additional 11,810 shares during the period. Finally, GAMMA Investing LLC lifted its position in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Guggenheim increased their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus lowered 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 research report on Friday. Finally, Barclays increased their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.00.

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.