Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC lifted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 407.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 416 shares of the company’s stock after buying an additional 334 shares during the period. Fortitude Family Office LLC’s holdings in Kontoor Brands were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KTB. Quest Partners LLC acquired a new stake in Kontoor Brands during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands during the third quarter worth approximately $30,000. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands during the third quarter worth $32,000. Farther Finance Advisors LLC grew its position in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

KTB opened at $86.26 on Friday. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $94.82. The stock has a market cap of $4.76 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.30 and a beta of 1.20. The stock’s 50 day simple moving average is $88.66 and its 200 day simple moving average is $78.69. 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 quarterly 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. The business had revenue of $670.19 million during 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 was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a $0.52 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.41%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is presently 46.85%.

Wall Street Analyst Weigh In

KTB has been the topic of several analyst reports. Barclays lifted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group lifted their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim lifted their price target 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, Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 331,916 shares in the company, valued at approximately $27,748,177.60. This represents a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

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.