American International Group Inc. Lowers Position in Kontoor Brands, Inc. (NYSE:KTB)

American International Group Inc. cut its stake in Kontoor Brands, Inc. (NYSE:KTB) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,303 shares of the company’s stock after selling 237 shares during the quarter. American International Group Inc.’s holdings in Kontoor Brands were worth $1,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of KTB. Deutsche Bank AG lifted its holdings in Kontoor Brands by 11.5% in the third quarter. Deutsche Bank AG now owns 31,313 shares of the company’s stock worth $1,375,000 after buying an additional 3,225 shares during the period. Rhumbline Advisers lifted its holdings in Kontoor Brands by 0.9% in the third quarter. Rhumbline Advisers now owns 161,187 shares of the company’s stock worth $7,078,000 after buying an additional 1,466 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Kontoor Brands during the third quarter valued at approximately $238,000. Envestnet Asset Management Inc. increased its stake in shares of Kontoor Brands by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 175,167 shares of the company’s stock valued at $7,692,000 after purchasing an additional 17,541 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kontoor Brands by 28.2% during the third quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock valued at $12,712,000 after purchasing an additional 63,616 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KTB has been the subject of a number of analyst reports. Stifel Nicolaus raised their target price on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Barclays raised their target price on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Buying and Selling

In related news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 318,188 shares in the company, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 318,188 shares in the company, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now owns 15,379 shares in the company, valued at approximately $1,112,824.44. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Kontoor Brands Price Performance

Shares of KTB opened at $67.68 on Wednesday. The company has a market capitalization of $3.78 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $67.76 and a 200 day moving average of $62.41. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $74.90.

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

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, June 10th. Kontoor Brands’s dividend payout ratio is currently 50.63%.

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.