Everence Capital Management Inc. Sells 1,890 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Everence Capital Management Inc. trimmed its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,770 shares of the company’s stock after selling 1,890 shares during the period. Everence Capital Management Inc.’s holdings in Kontoor Brands were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Quest Partners LLC bought a new stake in Kontoor Brands during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in shares of Kontoor Brands during the third quarter worth $30,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands during the 3rd quarter valued at $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 valued at $32,000 after buying an additional 274 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Kontoor Brands in the third quarter valued at about $48,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

NYSE:KTB opened at $86.48 on Monday. The firm’s fifty day moving average is $87.90 and its two-hundred day moving average is $78.08. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.30 and a beta of 1.20. Kontoor Brands, Inc. has a one year low of $52.95 and a one year 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.

Kontoor Brands (NYSE:KTB) last posted its earnings results 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 return on equity of 73.99% and a net margin of 9.72%. During the same period last year, the company earned $1.22 earnings per share. Kontoor Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a $0.52 dividend. 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 2.41%. The ex-dividend date was Monday, December 9th. Kontoor Brands’s payout ratio is currently 46.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KTB shares. Barclays boosted 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. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group raised their price target 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. Guggenheim boosted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $89.00 to $93.00 in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Insider Buying and Selling

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s 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 sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the transaction, 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by 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.