Scott H. Baxter Sells 119,160 Shares of Kontoor Brands, Inc. (NYSE:KTB) Stock

Kontoor Brands, Inc. (NYSE:KTB) CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction dated 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 directly owns 331,916 shares in the company, valued at $27,748,177.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kontoor Brands Trading Up 1.2 %

KTB opened at $90.06 on Friday. The stock has a market cap of $4.97 billion, a PE ratio of 20.28, a PEG ratio of 2.24 and a beta of 1.19. The business has a 50 day moving average of $79.10 and a 200-day moving average of $72.42. Kontoor Brands, Inc. has a 52 week low of $47.33 and a 52 week high of $90.74. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the previous year, the business posted $1.22 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Kontoor Brands’s payout ratio is presently 45.05%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in Kontoor Brands during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new position in shares of Kontoor Brands during the third quarter valued at $30,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands during the third quarter valued at $32,000. Farther Finance Advisors LLC increased its holdings in Kontoor Brands by 242.5% in the 3rd 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 purchased a new position in Kontoor Brands in the 3rd quarter worth about $48,000. 93.06% of the stock is currently owned by institutional investors.

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.