103,679 Shares in Kontoor Brands, Inc. (NYSE:KTB) Bought by Walleye Capital LLC

Walleye Capital LLC purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,679 shares of the company’s stock, valued at approximately $8,479,000. Walleye Capital LLC owned about 0.19% of Kontoor Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Kontoor Brands in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at approximately $30,000. Kennebec Savings Bank bought a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in Kontoor Brands in the 3rd quarter valued at $48,000. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KTB has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Guggenheim increased their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Barclays increased their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, UBS Group boosted their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $91.78 on Friday. The firm has a market cap of $5.06 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.19. 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 stock’s fifty day moving average price is $83.96 and its two-hundred day moving average price is $75.14. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $94.41.

Kontoor Brands (NYSE:KTB) last issued 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 company had revenue of $670.19 million for 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 revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.22 earnings per share. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.27%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

Insider Buying and Selling at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.