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 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 transaction, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kontoor Brands Price Performance

Shares of KTB traded up $2.55 during mid-day trading on Thursday, hitting $89.01. 471,065 shares of the stock were exchanged, compared to its average volume of 488,571. The company has a market cap of $4.91 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. Kontoor Brands, Inc. has a 52-week low of $47.33 and a 52-week high of $89.76. The firm has a 50-day moving average of $78.50 and a two-hundred day moving average of $72.08. 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 released 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. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. On average, equities analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s dividend payout ratio is 45.05%.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Kontoor Brands by 351.7% during the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after acquiring an additional 270,427 shares during the period. Marshall Wace LLP lifted its position in Kontoor Brands by 159.0% during the second quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock worth $22,186,000 after buying an additional 205,885 shares in the last quarter. Pacer Advisors Inc. raised its position in Kontoor Brands by 10.9% in the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after purchasing an additional 201,399 shares during the period. Bwcp LP acquired a new stake in shares of Kontoor Brands in the second quarter valued at $11,890,000. Finally, Squarepoint Ops LLC grew its stake in shares of Kontoor Brands by 123.7% in the second quarter. Squarepoint Ops LLC now owns 220,065 shares of the company’s stock valued at $14,557,000 after buying an additional 121,689 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KTB has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of 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 lowered shares of 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 report on Friday, November 1st. Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, UBS Group increased their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report 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. According to data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

About Kontoor Brands

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.