Kontoor Brands, Inc. (NYSE:KTB) Position Decreased by Burney Co.

Burney Co. lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,354 shares of the company’s stock after selling 637 shares during the period. Burney Co.’s holdings in Kontoor Brands were worth $805,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of Kontoor Brands during the first quarter valued at approximately $527,000. Price T Rowe Associates Inc. MD boosted its holdings in Kontoor Brands by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,351 shares of the company’s stock worth $2,010,000 after purchasing an additional 2,069 shares in the last quarter. Magnetar Financial LLC acquired a new position in Kontoor Brands during the first quarter worth $1,508,000. Lazard Asset Management LLC raised its holdings in Kontoor Brands by 149.1% during the first quarter. Lazard Asset Management LLC now owns 7,076 shares of the company’s stock valued at $426,000 after buying an additional 4,235 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of Kontoor Brands in the first quarter worth about $2,024,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Buying and Selling at Kontoor Brands

In related news, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Scott H. Baxter sold 29,212 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the completion of the sale, the chief executive officer now owns 318,188 shares in the company, valued at approximately $22,756,805.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at approximately $1,112,824.44. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded down $2.92 during trading on Friday, hitting $69.12. 727,287 shares of the stock were exchanged, compared to its average volume of 474,475. Kontoor Brands, Inc. has a 1-year low of $39.90 and a 1-year high of $74.90. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.42 and a current ratio of 2.74. The company’s fifty day simple moving average is $68.67 and its 200-day simple moving average is $63.81. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The firm had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Guggenheim upped their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday. Barclays lifted their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Stifel Nicolaus lifted their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $78.83.

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.