Harel Insurance Investments & Financial Services Ltd. Makes New $154,000 Investment in Kontoor Brands, Inc. (NYSE:KTB)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,807 shares of the company’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at approximately $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands in the 3rd quarter worth about $32,000. Farther Finance Advisors LLC grew its stake in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Kontoor Brands in the third quarter valued at about $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the company’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 sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands 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 completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

KTB has been the topic of several research reports. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. 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. Finally, UBS Group increased their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Up 1.2 %

NYSE:KTB opened at $91.44 on Friday. 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 quick ratio of 1.42 and a current ratio of 2.50. The stock has a 50-day simple moving average of $88.36 and a 200 day simple moving average of $80.18. The company has a market cap of $5.04 billion, a PE ratio of 20.59, a PEG 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 for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS 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.