Private Advisor Group LLC Has $281,000 Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Private Advisor Group LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,431 shares of the company’s stock after selling 317 shares during the quarter. Private Advisor Group LLC’s holdings in Kontoor Brands were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands in the 3rd quarter valued at $30,000. Everence Capital Management Inc. raised its stake in shares of Kontoor Brands by 39.3% during the 3rd quarter. Everence Capital Management Inc. now owns 6,660 shares of the company’s stock worth $545,000 after purchasing an additional 1,880 shares in the last quarter. Vest Financial LLC boosted its holdings in shares of Kontoor Brands by 16.6% in the 3rd quarter. Vest Financial LLC now owns 19,131 shares of the company’s stock valued at $1,565,000 after buying an additional 2,720 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kontoor Brands by 41.0% in the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock valued at $181,000 after buying an additional 644 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Kontoor Brands in the third quarter valued at $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s 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 sale, the executive vice president now owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Kontoor Brands Trading Up 2.0 %

Shares of KTB stock opened at $86.46 on Thursday. Kontoor Brands, Inc. has a 12-month low of $47.33 and a 12-month high of $89.76. The company has a market capitalization of $4.77 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The firm has a 50 day moving average price of $78.50 and a two-hundred day moving average price of $72.08. 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 (NYSE:KTB) last announced its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The company 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%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 earnings per share. As a group, analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.41%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Analyst Upgrades and Downgrades

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

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.