Kontoor Brands, Inc. (NYSE:KTB) CEO Sells $9,961,776.00 in Stock

Kontoor Brands, Inc. (NYSE:KTB) CEO Scott H. Baxter sold 119,160 shares of the business’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 completion of the sale, the chief executive officer now owns 331,916 shares in the company, valued at approximately $27,748,177.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Kontoor Brands Trading Up 2.9 %

Shares of NYSE:KTB traded up $2.55 during midday trading on Thursday, reaching $89.01. The company had a trading volume of 471,065 shares, compared to its average volume of 488,571. 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, Inc. has a 1-year low of $47.33 and a 1-year high of $89.76. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The company has a fifty day simple moving average of $78.50 and a two-hundred day simple moving average of $72.08.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (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 analyst estimates of $663.45 million. During the same period in the previous year, the company earned $1.22 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Research 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be given a dividend of $0.52 per share. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, December 9th. Kontoor Brands’s payout ratio is 45.05%.

Analyst Ratings Changes

A number of equities analysts have recently commented on KTB shares. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Barclays increased their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.00.

Institutional Trading of Kontoor Brands

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in shares of Kontoor Brands during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands during the third quarter valued at approximately $30,000. Kennebec Savings Bank acquired a new position in Kontoor Brands during the third quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its holdings in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in Kontoor Brands during the third quarter valued at approximately $48,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.