GSA Capital Partners LLP Has $261,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

GSA Capital Partners LLP lessened its stake in Kontoor Brands, Inc. (NYSE:KTBFree Report) by 41.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,189 shares of the company’s stock after selling 2,235 shares during the quarter. GSA Capital Partners LLP’s holdings in Kontoor Brands were worth $261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in Kontoor Brands during the second quarter worth $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands during the 3rd quarter worth about $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands during the 3rd quarter worth about $32,000. Farther Finance Advisors LLC grew its stake in Kontoor Brands by 242.5% in 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 during the last quarter. Finally, Sound Income Strategies LLC bought a new position in Kontoor Brands in the 3rd quarter valued at about $48,000. 93.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Guggenheim lifted their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped 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. Barclays lifted their price objective 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, Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Check Out Our Latest Analysis on Kontoor Brands

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $91.38 on Friday. Kontoor Brands, Inc. has a 1-year low of $52.82 and a 1-year high of $92.48. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The stock’s fifty day simple moving average is $82.53 and its two-hundred day simple moving average is $74.28. The stock has a market cap of $5.04 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

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

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.28%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

Insider Buying and Selling

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’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 directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

About Kontoor Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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