R Squared Ltd Takes $102,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

R Squared Ltd bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,197 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors also recently bought and sold shares of KTB. Jennison Associates LLC boosted its position in Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after purchasing an additional 320,117 shares in the last quarter. Millennium Management LLC boosted its holdings in Kontoor Brands by 351.7% during the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after buying an additional 270,427 shares in the last quarter. Walleye Capital LLC acquired a new stake in Kontoor Brands during the third quarter valued at $8,479,000. Barclays PLC increased its holdings in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after buying an additional 77,137 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Kontoor Brands in the third quarter worth about $4,799,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KTB shares. Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. UBS Group lifted their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Performance

Shares of NYSE:KTB opened at $95.61 on Friday. The business’s 50 day moving average price is $88.53 and its 200-day moving average price is $80.88. Kontoor Brands, Inc. has a 1 year low of $52.95 and a 1 year high of $96.80. 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 $5.27 billion, a PE ratio of 21.53, a P/E/G ratio of 2.11 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, topping analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

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.