Prudent Man Advisors LLC Purchases Shares of 2,815 Kontoor Brands, Inc. (NYSE:KTB)

Prudent Man Advisors LLC acquired a new position in Kontoor Brands, Inc. (NYSE:KTB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,815 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Kontoor Brands in the third quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after acquiring an additional 274 shares during the period. Kennebec Savings Bank bought a new position in Kontoor Brands in the 3rd quarter worth $32,000. Quest Partners LLC purchased a new position in Kontoor Brands during the second quarter valued at $27,000. Finally, Sound Income Strategies LLC bought a new stake in Kontoor Brands during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Insider Activity

In related news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction dated 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 in the company, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

KTB has been the topic of several recent research reports. Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group upped their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Guggenheim increased their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Price Performance

KTB stock opened at $90.69 on Tuesday. The company has a market capitalization of $5.00 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company’s fifty day moving average price is $80.82 and its 200-day moving average price is $73.57. Kontoor Brands, Inc. has a one year low of $51.76 and a one year high of $92.48. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. On average, equities analysts anticipate that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s payout ratio is 46.85%.

Kontoor Brands 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.