Kontoor Brands, Inc. (NYSE:KTB – Get Free Report) 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 – Get Free Report) 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
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.
Get Our Latest Stock Report on KTB
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.
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