Oppenheimer & Co. Inc. Trims Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Oppenheimer & Co. Inc. decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 2.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 74,478 shares of the company’s stock after selling 1,514 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kontoor Brands were worth $4,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new position in Kontoor Brands during the fourth quarter worth $25,000. Principal Securities Inc. bought a new position in Kontoor Brands during the fourth quarter worth $32,000. Oakworth Capital Inc. lifted its stake in Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock worth $49,000 after purchasing an additional 478 shares during the last quarter. Headlands Technologies LLC bought a new position in Kontoor Brands during the fourth quarter worth $81,000. Finally, CWM LLC lifted its stake in Kontoor Brands by 160.1% during the fourth quarter. CWM LLC now owns 1,927 shares of the company’s stock worth $120,000 after purchasing an additional 1,186 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the transaction, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the transaction, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total value of $341,032.68. Following the transaction, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Kontoor Brands Stock Performance

KTB stock opened at $65.29 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.42 and a current ratio of 2.70. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.73 and a beta of 1.16. Kontoor Brands, Inc. has a 1 year low of $38.49 and a 1 year high of $74.90. The stock’s fifty day moving average is $68.87 and its two-hundred day moving average is $62.88.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The company had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.16 earnings per share. On average, research analysts predict that Kontoor Brands, Inc. will post 4.73 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

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.