Sanctuary Advisors LLC Invests $332,000 in Kontoor Brands, Inc. (NYSE:KTB)

Sanctuary Advisors LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,055 shares of the company’s stock, valued at approximately $332,000.

A number of other large investors have also added to or reduced their stakes in KTB. Quest Partners LLC acquired a new stake in shares of Kontoor Brands in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Kontoor Brands during the 3rd quarter worth $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands during the 3rd quarter valued at approximately $32,000. Farther Finance Advisors LLC increased its position in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in Kontoor Brands in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Trading Down 1.4 %

Shares of KTB stock opened at $85.19 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 19.19, a PEG ratio of 2.30 and a beta of 1.20. The company has a 50 day moving average of $87.17 and a 200-day moving average of $77.44. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $94.82.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were given a dividend of $0.52 per share. The ex-dividend date was Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.44%. Kontoor Brands’s payout ratio is presently 46.85%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 331,916 shares in the company, valued at $27,748,177.60. This represents a 26.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

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.