Ritholtz Wealth Management Has $579,000 Stake in Kontoor Brands, Inc. (NYSE:KTB)

Ritholtz Wealth Management boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 12.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,776 shares of the company’s stock after acquiring an additional 771 shares during the period. Ritholtz Wealth Management’s holdings in Kontoor Brands were worth $579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after purchasing an additional 11,337 shares during the period. International Assets Investment Management LLC grew its stake in Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after buying an additional 28,273 shares in the last quarter. Natixis Advisors LLC increased its holdings in Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after buying an additional 1,087 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at approximately $332,000. Finally, Jennison Associates LLC lifted its holdings in shares of Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after acquiring an additional 320,117 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $86.10 on Tuesday. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.04 and a beta of 1.20. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The business’s 50-day moving average price is $88.39 and its 200-day moving average price is $79.69. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $94.82.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 EPS 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 business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same period last year, the company earned $1.22 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, December 9th. Kontoor Brands’s dividend payout ratio is presently 46.85%.

Insider Buying and Selling

In other news, CEO Scott H. Baxter sold 119,160 shares of the company’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. This represents a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction 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 position. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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