Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. Sells 9,039 Shares

Kontoor Brands, Inc. (NYSE:KTB) EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, the executive vice president now owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kontoor Brands Price Performance

Shares of KTB stock opened at $86.46 on Thursday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.18 and a beta of 1.19. Kontoor Brands, Inc. has a 12 month low of $47.33 and a 12 month high of $89.76. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average price of $78.50 and a 200 day moving average price of $72.08.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Research analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be given a dividend of $0.52 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.41%. Kontoor Brands’s payout ratio is presently 45.05%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands during the third quarter worth $30,000. Farther Finance Advisors LLC boosted its holdings in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Kontoor Brands during the 3rd quarter worth about $32,000. Quest Partners LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at about $27,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KTB shares. Guggenheim raised their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group raised their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price target 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. Barclays raised their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.