Burney Co. Sells 309 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Burney Co. cut its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,961 shares of the company’s stock after selling 309 shares during the quarter. Burney Co.’s holdings in Kontoor Brands were worth $1,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Kontoor Brands in the 2nd quarter valued at approximately $27,000. American Century Companies Inc. boosted its position in Kontoor Brands by 48.7% in the second quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after buying an additional 11,810 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kontoor Brands by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock worth $82,707,000 after buying an additional 60,926 shares during the last quarter. Hsbc Holdings PLC grew its position in Kontoor Brands by 2.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after acquiring an additional 203 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Kontoor Brands in the second quarter valued at about $268,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Down 0.9 %

KTB opened at $84.72 on Friday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $94.82. The company has a fifty day moving average of $88.55 and a 200-day moving average of $79.19. The stock has a market cap of $4.67 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20. 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 (NYSE:KTB) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was 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 2.46%. Kontoor Brands’s payout ratio is 46.85%.

Insider Transactions at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the transaction, the executive vice president now owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 33.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value 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 approximately $27,748,177.60. This represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KTB shares. Stifel Nicolaus cut 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 report on Friday, November 1st. Guggenheim upped their price target 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. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group increased their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat.com, the company currently has an average 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.