Tompkins Financial Corp Purchases Shares of 1,142 Kontoor Brands, Inc. (NYSE:KTB)

Tompkins Financial Corp purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,142 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its position in Kontoor Brands by 31.4% during the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after purchasing an additional 11,337 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after acquiring an additional 28,273 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock worth $1,422,000 after acquiring an additional 1,087 shares during the period. Sanctuary Advisors LLC bought a new stake in Kontoor Brands in the third quarter valued at approximately $332,000. Finally, LMR Partners LLP acquired a new stake in Kontoor Brands during the 3rd quarter valued at approximately $4,799,000. Institutional investors own 93.06% of the company’s stock.

Insiders Place Their Bets

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction on 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 transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction dated 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 owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Kontoor Brands Price Performance

KTB stock opened at $86.10 on Friday. 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 company’s 50-day moving average is $88.47 and its 200-day moving average is $79.34. The stock has a market capitalization 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 1 year low of $52.95 and a 1 year high of $94.82.

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, topping the consensus estimate of $1.26 by $0.11. The business 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 company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. Equities research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s payout ratio is 46.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KTB. Guggenheim boosted their price target 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 lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company increased their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, UBS Group raised their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

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.