Scott H. Baxter Sells 119,160 Shares of Kontoor Brands, Inc. (NYSE:KTB) Stock

Kontoor Brands, Inc. (NYSE:KTB) CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Kontoor Brands Trading Up 1.2 %

NYSE:KTB opened at $90.06 on Friday. Kontoor Brands, Inc. has a one year low of $47.33 and a one year high of $90.74. The business has a fifty day moving average price of $79.10 and a 200-day moving average price of $72.51. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.24 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 1.42.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) 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 firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter last year, the business posted $1.22 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 2.31%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Trading of Kontoor Brands

Several hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC lifted its position in shares of Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after buying an additional 320,117 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Kontoor Brands by 351.7% in the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after purchasing an additional 270,427 shares during the period. Marshall Wace LLP boosted its holdings in shares of Kontoor Brands by 159.0% in the 2nd quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock worth $22,186,000 after purchasing an additional 205,885 shares during the period. Pacer Advisors Inc. raised its holdings in Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after buying an additional 201,399 shares during the period. Finally, Bwcp LP bought a new stake in Kontoor Brands in the second quarter worth $11,890,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KTB shares. Barclays lifted their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. 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 report on Wednesday, October 23rd. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $95.00.

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.