Jane Street Group LLC Sells 102,765 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Jane Street Group LLC trimmed its position in Kontoor Brands, Inc. (NYSE:KTB) by 64.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,574 shares of the company’s stock after selling 102,765 shares during the period. Jane Street Group LLC owned 0.10% of Kontoor Brands worth $4,545,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Kontoor Brands in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands in the 3rd quarter valued at about $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands during the 3rd quarter valued at about $32,000. Farther Finance Advisors LLC boosted its position 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 valued at $32,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands during the third quarter worth about $48,000. 93.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on KTB. Wells Fargo & Company lifted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. 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. Guggenheim raised their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays lifted 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, November 1st. Finally, UBS Group increased their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Trading Down 2.6 %

NYSE KTB opened at $87.57 on Wednesday. The firm has a market cap of $4.83 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $94.82. The stock has a 50-day moving average of $86.46 and a 200-day moving average of $76.78. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating 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 firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 2.38%. The ex-dividend date 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 46.85%.

Insider Buying and Selling at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Kontoor Brands 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.