Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 3.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,609 shares of the company’s stock after selling 213 shares during the period. Ameritas Investment Partners Inc.’s holdings in Kontoor Brands were worth $338,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Kontoor Brands in the 4th quarter valued at $25,000. Principal Securities Inc. acquired a new stake in Kontoor Brands in the 4th quarter valued at about $32,000. Oakworth Capital Inc. increased its holdings in shares of Kontoor Brands by 157.8% in the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after purchasing an additional 478 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at about $81,000. Finally, CWM LLC grew its position in Kontoor Brands by 160.1% in the fourth quarter. CWM LLC now owns 1,927 shares of the company’s stock worth $120,000 after acquiring an additional 1,186 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

NYSE:KTB opened at $66.32 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42. The firm’s fifty day moving average price is $68.92 and its 200 day moving average price is $63.30. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $74.90. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.82 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data 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 firm had revenue of $631.20 million during the quarter, compared to the consensus estimate of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. Kontoor Brands’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. On average, sell-side analysts expect that Kontoor Brands, Inc. will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Kontoor Brands news, CAO Susan Denise Sumner sold 4,713 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the transaction, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Scott H. Baxter sold 29,212 shares of the business’s stock in a transaction dated 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 directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KTB has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, The Goldman Sachs Group upped their price objective on Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.20.

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.