Kontoor Brands, Inc. (NYSE:KTB) Holdings Lifted by UMB Bank n.a.

UMB Bank n.a. grew its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,305 shares of the company’s stock after buying an additional 210 shares during the period. UMB Bank n.a.’s holdings in Kontoor Brands were worth $4,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands in the third quarter worth about $30,000. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands in the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC boosted its holdings in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after acquiring an additional 274 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in Kontoor Brands during the third quarter worth approximately $48,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KTB has been the subject of a number of research reports. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays lifted their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group upped 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. Guggenheim lifted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Up 1.5 %

KTB stock opened at $86.10 on Tuesday. The company’s 50 day simple moving average is $88.39 and its 200-day simple moving average is $79.69. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $94.82. 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 firm has a market capitalization of $4.75 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.04 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (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 company had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same quarter in the prior year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were issued a $0.52 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.42%. Kontoor Brands’s dividend payout ratio is currently 46.85%.

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. This represents a 33.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s 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 in the company, 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. 2.50% of the stock is owned by insiders.

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.