US Bancorp DE Raises Holdings in Kontoor Brands, Inc. (NYSE:KTB)

US Bancorp DE lifted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 24.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,685 shares of the company’s stock after purchasing an additional 522 shares during the quarter. US Bancorp DE’s holdings in Kontoor Brands were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands in the third quarter valued at $30,000. Quest Partners LLC acquired a new stake in shares of Kontoor Brands in the second quarter valued at about $27,000. Sound Income Strategies LLC purchased a new stake in Kontoor Brands during the third quarter worth about $48,000. GAMMA Investing LLC grew its position in Kontoor Brands by 53.5% during the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after buying an additional 244 shares during the period. Finally, Signaturefd LLC increased its holdings in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after buying an additional 324 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 331,916 shares in the company, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Kontoor Brands Stock Performance

NYSE KTB opened at $90.77 on Friday. 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, Inc. has a fifty-two week low of $51.12 and a fifty-two week high of $92.48. The business has a fifty day moving average of $80.10 and a 200-day moving average of $73.10. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.34 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s payout ratio is currently 46.85%.

Analysts Set New Price Targets

KTB has been the topic of several research analyst reports. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group boosted 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. Barclays raised their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Guggenheim boosted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased 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. 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 MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price 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.