Tidal Investments LLC Has $674,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Tidal Investments LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 9.9% during the 3rd quarter, Holdings Channel reports. The firm owned 8,243 shares of the company’s stock after selling 910 shares during the quarter. Tidal Investments LLC’s holdings in Kontoor Brands were worth $674,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Kontoor Brands in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands during the 3rd quarter valued at $30,000. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the 3rd quarter valued at $32,000. Farther Finance Advisors LLC raised 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 purchasing an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Kontoor Brands in the third quarter worth $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of NYSE:KTB opened at $87.35 on Friday. The firm’s 50 day simple moving average is $86.83 and its 200 day simple moving average is $77.03. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $94.82. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.31 and a beta of 1.20. 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 posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same period last year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.38%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, December 9th. Kontoor Brands’s payout ratio is presently 46.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KTB. Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus cut shares of 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 note on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Guggenheim upped their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Insiders Place Their Bets

In related news, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s 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 of the company’s stock, 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. Corporate insiders own 2.60% of the company’s stock.

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.