Insider Selling: Kontoor Brands, Inc. (NYSE:KTB) CEO Sells 119,160 Shares of 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 shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kontoor Brands Price Performance

KTB opened at $89.01 on Friday. The business has a fifty day moving average of $78.80 and a 200 day moving average of $72.20. The stock has a market cap of $4.91 billion, a P/E ratio of 20.05, a PEG ratio of 2.18 and a beta of 1.19. 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 52-week low of $47.33 and a 52-week high of $89.76.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping 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 business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same period in the prior year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.34%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Institutional Trading of Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new stake in Kontoor Brands during the third quarter worth $30,000. Farther Finance Advisors LLC raised its position in shares of 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 acquiring an additional 274 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands during the 3rd quarter worth $32,000. Quest Partners LLC bought a new stake in Kontoor Brands during the second quarter valued at about $27,000. Finally, Sound Income Strategies LLC bought a new stake in Kontoor Brands during the third quarter valued at about $48,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on KTB shares. 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 report on Friday, November 1st. UBS Group lifted their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus downgraded 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 research report on Friday, November 1st. Finally, Guggenheim boosted their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.00.

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.