Nilsine Partners LLC Increases Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Nilsine Partners LLC increased its stake in Kontoor Brands, Inc. (NYSE:KTB) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,082 shares of the company’s stock after acquiring an additional 1,886 shares during the quarter. Nilsine Partners LLC’s holdings in Kontoor Brands were worth $1,801,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the third quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its holdings in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the 3rd quarter worth $32,000. Fortitude Family Office LLC grew its holdings 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 worth $36,000 after buying an additional 334 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at about $48,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 0.5 %

Shares of NYSE:KTB opened at $91.71 on Tuesday. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.11 and a beta of 1.20. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $94.82. The business has a 50-day moving average price of $88.36 and a 200 day moving average price of $80.42. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $670.19 million for 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 business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KTB. UBS Group upped their price objective 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. Guggenheim upped their price target 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 downgraded Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Barclays boosted 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. Finally, Wells Fargo & Company raised their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.00.

Insider Buying and Selling

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the business’s 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 sale, the chief executive officer now directly owns 331,916 shares in the company, valued at $27,748,177.60. This represents a 26.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 33.21 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Kontoor Brands Company 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.