Ritholtz Wealth Management Acquires 771 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Ritholtz Wealth Management increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 12.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,776 shares of the company’s stock after purchasing an additional 771 shares during the quarter. Ritholtz Wealth Management’s holdings in Kontoor Brands were worth $579,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the period. Hsbc Holdings PLC boosted its stake in Kontoor Brands by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC increased its holdings 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. Fortitude Family Office LLC increased its holdings in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Kontoor Brands by 9.7% in the second quarter. Evergreen Capital Management LLC now owns 4,034 shares of the company’s stock valued at $267,000 after purchasing an additional 358 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KTB. Barclays increased their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” 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 stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group boosted their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two investment 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, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Insiders Place Their Bets

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 approximately $27,748,177.60. This trade represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $86.10 on Tuesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a 50-day moving average of $88.39 and a 200-day moving average of $79.69. The company has a market cap of $4.75 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.04 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.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 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.