Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,786,250 shares of the company’s stock after acquiring an additional 44,287 shares during the period. Pacer Advisors Inc.’s holdings in Kontoor Brands were worth $152,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in KTB. State Street Corp boosted its holdings in shares of Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after buying an additional 26,759 shares during the period. Geode Capital Management LLC lifted its holdings in Kontoor Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after acquiring an additional 15,058 shares during the last quarter. Jennison Associates LLC boosted its stake in Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after acquiring an additional 320,117 shares during the period. Charles Schwab Investment Management Inc. grew 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. Finally, Millennium Management LLC raised its position in shares of Kontoor Brands by 351.7% during the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after purchasing an additional 270,427 shares during the period. Institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, 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 transaction of $9,961,776.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Kontoor Brands Stock Performance

Shares of KTB opened at $91.44 on Monday. The firm has a market capitalization of $5.04 billion, a PE ratio of 20.59, a P/E/G ratio of 2.11 and a beta of 1.20. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $88.36 and a 200 day moving average price of $80.29. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $94.82.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data 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 net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same period last year, the firm posted $1.22 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands 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.