Kontoor Brands, Inc. (NYSE:KTB) Stake Raised by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 164.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,872 shares of the company’s stock after purchasing an additional 16,708 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Kontoor Brands were worth $2,198,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Citigroup Inc. grew its position in Kontoor Brands by 76.5% in the third quarter. Citigroup Inc. now owns 70,738 shares of the company’s stock worth $5,785,000 after buying an additional 30,650 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Kontoor Brands in the 3rd quarter worth $3,448,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kontoor Brands by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock valued at $54,089,000 after purchasing an additional 17,974 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Kontoor Brands by 222.2% in the 3rd quarter. Intech Investment Management LLC now owns 13,038 shares of the company’s stock valued at $1,066,000 after purchasing an additional 8,991 shares during the period. Finally, Jennison Associates LLC increased its stake in Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after purchasing an additional 320,117 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Trading Up 4.0 %

NYSE KTB opened at $91.38 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $52.82 and a 1-year high of $92.48. The firm’s fifty day simple moving average is $82.53 and its 200-day simple moving average is $74.38. The company has a market capitalization of $5.04 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.36 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last issued 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. 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.28%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s payout ratio is currently 45.05%.

Wall Street Analyst Weigh In

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

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Kontoor Brands Company 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.