Dynamic Technology Lab Private Ltd Acquires 16,708 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 164.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,872 shares of the company’s stock after purchasing an additional 16,708 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Kontoor Brands were worth $2,198,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KTB. Arizona State Retirement System boosted its position in shares of Kontoor Brands by 1.1% in the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $929,000 after acquiring an additional 154 shares during the period. SG Americas Securities LLC grew its position in Kontoor Brands by 5.0% during the second quarter. SG Americas Securities LLC now owns 3,544 shares of the company’s stock worth $234,000 after buying an additional 169 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Kontoor Brands by 3.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock valued at $329,000 after acquiring an additional 175 shares during the period. Louisiana State Employees Retirement System raised its holdings in Kontoor Brands by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $1,654,000 after acquiring an additional 200 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Kontoor Brands by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after acquiring an additional 203 shares during the period. Institutional investors own 93.06% of the company’s stock.

Insider Buying and Selling

In other news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the sale, the chief executive officer now owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s 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 directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Kontoor Brands Price Performance

NYSE:KTB opened at $91.38 on Monday. 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 firm has a market cap of $5.04 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.36 and a beta of 1.19. Kontoor Brands, Inc. has a 12 month low of $52.82 and a 12 month high of $92.48. The company’s 50-day moving average price is $82.53 and its two-hundred day moving average price is $74.38.

Kontoor Brands (NYSE:KTB) last announced 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 return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same period in the previous year, the business earned $1.22 EPS. Kontoor Brands’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s payout ratio is currently 45.05%.

Analysts Set New Price Targets

KTB has been the subject of a number of recent research reports. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Wells Fargo & Company increased 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 lifted 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. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.