Aigen Investment Management LP Purchases New Stake in Kontoor Brands, Inc. (NYSE:KTB)

Aigen Investment Management LP acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,249 shares of the company’s stock, valued at approximately $1,002,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KTB. Texas Permanent School Fund Corp lifted its holdings in shares of Kontoor Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 43,760 shares of the company’s stock valued at $2,637,000 after purchasing an additional 567 shares in the last quarter. Swiss National Bank raised its holdings in shares of Kontoor Brands by 0.3% in the first quarter. Swiss National Bank now owns 99,814 shares of the company’s stock valued at $6,014,000 after purchasing an additional 300 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after purchasing an additional 293 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Kontoor Brands by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 11,198 shares of the company’s stock worth $675,000 after buying an additional 780 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Kontoor Brands by 6.9% in the 1st quarter. Bleakley Financial Group LLC now owns 7,493 shares of the company’s stock worth $451,000 after buying an additional 483 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Insider Activity at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,467,227.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction that occurred 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 of the company’s stock, valued at $27,748,177.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Guggenheim increased their price target on shares of 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 cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays increased their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $90.49 on Wednesday. The stock has a market cap of $4.99 billion, a P/E ratio of 20.38, a PEG ratio of 2.34 and a beta of 1.19. Kontoor Brands, Inc. has a fifty-two week low of $47.33 and a fifty-two week high of $92.48. The firm’s fifty day moving average price is $79.41 and its 200-day moving average price is $72.78. 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 announced 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. The business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.83 earnings per share 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. Investors of record on Monday, December 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

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.