Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 407.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 416 shares of the company’s stock after purchasing an additional 334 shares during the quarter. Fortitude Family Office LLC’s holdings in Kontoor Brands were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after acquiring an additional 182 shares during the last quarter. Synovus Financial Corp acquired a new position in Kontoor Brands during the third quarter worth approximately $220,000. Sanctuary Advisors LLC purchased a new position in Kontoor Brands during the third quarter worth approximately $332,000. TD Private Client Wealth LLC boosted its holdings in shares of Kontoor Brands by 35.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,594 shares of the company’s stock valued at $130,000 after purchasing an additional 419 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Kontoor Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after buying an additional 15,058 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KTB shares. UBS Group increased their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Guggenheim lifted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note 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. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Barclays boosted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $86.26 on Friday. The firm has a market capitalization of $4.76 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.30 and a beta of 1.20. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $94.82. The stock’s 50 day moving average price is $88.66 and its 200 day moving average price is $78.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.41%. Kontoor Brands’s dividend payout ratio (DPR) is currently 46.85%.

Insider Transactions at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 331,916 shares in the company, valued at approximately $27,748,177.60. This represents a 26.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This trade represents a 33.21 % 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 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.