Endowment Wealth Management Inc. Sells 505 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Endowment Wealth Management Inc. lowered its position in Kontoor Brands, Inc. (NYSE:KTB) by 16.0% in the third quarter, HoldingsChannel.com reports. The fund owned 2,656 shares of the company’s stock after selling 505 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Kontoor Brands were worth $217,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands in the third quarter worth $30,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares in the last quarter. Kennebec Savings Bank bought a new stake in Kontoor Brands during the 3rd quarter worth about $32,000. Quest Partners LLC acquired a new stake in Kontoor Brands in the 2nd quarter valued at about $27,000. Finally, Sound Income Strategies LLC bought a new position in shares of Kontoor Brands in the third quarter worth about $48,000. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KTB. UBS Group raised their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company 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 stock an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and raised their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. Barclays boosted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Guggenheim raised their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $90.29 on Thursday. The stock has a market cap of $4.98 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.19. The stock has a 50-day moving average of $79.75 and a 200-day moving average of $72.98. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a one year low of $49.52 and a one year high of $92.48.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.26 by $0.11. The firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.30%. Kontoor Brands’s payout ratio is currently 46.85%.

Insider Buying and Selling at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction dated 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, 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 completion of the sale, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

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.