Farther Finance Advisors LLC Purchases 274 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Farther Finance Advisors LLC raised its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 242.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387 shares of the company’s stock after purchasing an additional 274 shares during the period. Farther Finance Advisors LLC’s holdings in Kontoor Brands were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Kontoor Brands by 10.9% in the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock worth $135,187,000 after purchasing an additional 201,399 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kontoor Brands by 1.0% in the second quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company’s stock worth $84,046,000 after buying an additional 12,019 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kontoor Brands by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock valued at $82,707,000 after purchasing an additional 60,926 shares during the period. Bank of New York Mellon Corp grew its position in shares of Kontoor Brands by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock valued at $47,137,000 after acquiring an additional 7,526 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Kontoor Brands by 351.7% during the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after buying an additional 270,427 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KTB. Guggenheim increased their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price objective 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 upped their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Barclays lifted their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Activity at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the firm’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 of the company’s stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 owns 18,179 shares of the company’s stock, 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. Company insiders own 2.60% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $90.77 on Friday. Kontoor Brands, Inc. has a 52 week low of $51.12 and a 52 week high of $92.48. The company has a 50-day moving average price of $80.10 and a 200 day moving average price of $73.10. The company has a market cap of $5.01 billion, a P/E ratio of 20.44, a PEG ratio of 2.34 and a beta of 1.19. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating 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 business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same period last year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 46.85%.

Kontoor Brands 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.