Aigen Investment Management LP Makes New Investment in Kontoor Brands, Inc. (NYSE:KTB)

Aigen Investment Management LP bought a new position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,249 shares of the company's stock, valued at approximately $1,002,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Kontoor Brands during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in Kontoor Brands during the third quarter valued at approximately $30,000. Kennebec Savings Bank purchased a new stake in Kontoor Brands during the third quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Kontoor Brands during the third quarter valued at approximately $48,000. 93.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands 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 sale, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at $1,467,227.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded down $0.20 during trading on Wednesday, hitting $90.29. 354,080 shares of the company's stock were exchanged, compared to its average volume of 486,425. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business has a 50-day simple moving average of $79.75 and a 200-day simple moving average of $72.98. Kontoor Brands, Inc. has a 52-week low of $49.52 and a 52-week high of $92.48. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.34 and a beta of 1.19.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating 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 net margin of 9.72% and a return on equity of 73.99%. The firm'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. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands's previous quarterly dividend of $0.50. Kontoor Brands's dividend payout ratio (DPR) is currently 45.05%.

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.