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 the 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 completion of the sale, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kontoor Brands Stock Up 3.2 %

Shares of KTB stock opened at $84.25 on Tuesday. The stock’s 50 day simple moving average is $78.02 and its 200 day simple moving average is $71.78. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.43 and a current ratio of 2.50. Kontoor Brands, Inc. has a twelve month low of $47.33 and a twelve month high of $89.76. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.23 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same quarter last year, the firm posted $1.22 EPS. The company’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that Kontoor Brands, Inc. will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KTB shares. Guggenheim increased their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and raised their price target for the stock from $89.00 to $93.00 in a research note on Friday. UBS Group raised their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays raised their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Institutional Trading of Kontoor Brands

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