Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 28.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,770 shares of the company’s stock after selling 1,890 shares during the quarter. Everence Capital Management Inc.’s holdings in Kontoor Brands were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Kontoor Brands during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands during the 3rd quarter worth $30,000. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the 3rd quarter worth $32,000. Farther Finance Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at about $48,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Up 1.7 %

NYSE KTB opened at $86.48 on Monday. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $94.82. The stock has a market capitalization of $4.77 billion, a P/E ratio of 19.48, a PEG ratio of 2.30 and a beta of 1.20. The firm’s 50-day moving average is $87.90 and its two-hundred day moving average is $78.08. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last posted its earnings results 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 net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a dividend of $0.52 per share. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.08 annualized dividend and a yield of 2.41%. Kontoor Brands’s dividend payout ratio is presently 46.85%.

Insider Activity at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction on Friday, November 1st. The shares were 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 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. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays increased their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Guggenheim boosted 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, November 1st. Finally, Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $89.00 to $93.00 in a research note 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. According to data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

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.