Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners lowered its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 8.4% in the third quarter, HoldingsChannel reports. The firm owned 1,709 shares of the company’s stock after selling 157 shares during the quarter. Coston McIsaac & Partners’ holdings in Kontoor Brands were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KTB. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands during the 3rd quarter valued at $30,000. Everence Capital Management Inc. grew its holdings in shares of Kontoor Brands by 39.3% in the 3rd quarter. Everence Capital Management Inc. now owns 6,660 shares of the company’s stock worth $545,000 after acquiring an additional 1,880 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Kontoor Brands by 16.6% in the 3rd quarter. Vest Financial LLC now owns 19,131 shares of the company’s stock worth $1,565,000 after acquiring an additional 2,720 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Kontoor Brands by 41.0% in the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock worth $181,000 after acquiring an additional 644 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands during the third quarter valued at $48,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KTB. Wells Fargo & Company lifted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group boosted their price target on Kontoor Brands from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Guggenheim boosted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.00.

Kontoor Brands Price Performance

Shares of KTB stock traded down $0.34 during trading hours on Wednesday, hitting $77.96. The company had a trading volume of 71,981 shares, compared to its average volume of 478,718. Kontoor Brands, Inc. has a 12 month low of $39.90 and a 12 month high of $84.21. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.08 and a beta of 1.20. The firm’s fifty day moving average is $76.67 and its 200 day moving average is $70.22. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.57%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

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.