Farther Finance Advisors LLC Boosts Stake in Kontoor Brands, Inc. (NYSE:KTB)

Farther Finance Advisors LLC lifted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 242.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 387 shares of the company’s stock after acquiring an additional 274 shares during the quarter. Farther Finance Advisors LLC’s holdings in Kontoor Brands were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Kontoor Brands in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Kontoor Brands during the 3rd quarter worth about $30,000. Sound Income Strategies LLC bought a new position in Kontoor Brands during the 3rd quarter valued at $48,000. GAMMA Investing LLC lifted its holdings in Kontoor Brands by 53.5% in the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after acquiring an additional 244 shares during the last quarter. Finally, Signaturefd LLC grew its position in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

KTB has been the topic of several analyst reports. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Guggenheim increased their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, UBS Group raised 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Up 0.5 %

Shares of KTB opened at $90.77 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market capitalization of $5.01 billion, a P/E ratio of 20.44, a PEG ratio of 2.34 and a beta of 1.19. The business’s 50 day simple moving average is $80.10 and its 200-day simple moving average is $73.10. Kontoor Brands, Inc. has a one year low of $51.12 and a one year high of $92.48.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data 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 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 period last year, the company earned $1.22 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 4.83 EPS 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. Investors of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is currently 46.85%.

Insider Activity at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total value of $9,961,776.00. Following the sale, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the transaction, the executive vice president now directly 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.