Barclays PLC Increases Stake in Kontoor Brands, Inc. (NYSE:KTB)

Barclays PLC lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 316.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,522 shares of the company's stock after acquiring an additional 77,137 shares during the quarter. Barclays PLC owned approximately 0.18% of Kontoor Brands worth $8,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company's stock valued at $180,373,000 after acquiring an additional 26,759 shares during the last quarter. Pacer Advisors Inc. raised its position in Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company's stock worth $135,187,000 after purchasing an additional 201,399 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Kontoor Brands by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company's stock worth $84,046,000 after buying an additional 12,019 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kontoor Brands by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company's stock valued at $82,707,000 after buying an additional 60,926 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of 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 buying an additional 320,117 shares during the period. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Down 2.1 %

Shares of NYSE KTB traded down $1.87 during trading on Wednesday, hitting $85.70. 454,503 shares of the company traded hands, compared to its average volume of 480,052. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 2.31 and a beta of 1.20. The business's fifty day moving average is $86.46 and its 200 day moving average is $76.78. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $94.82.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million during the quarter, compared to analysts' expectations of $663.45 million. During the same quarter last year, the firm posted $1.22 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 dividend yield of 2.43%. This is a positive change 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%.

Analysts Set New Price Targets

KTB has been the subject of several analyst reports. 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. Guggenheim boosted their target price 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. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group lifted their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.00.

Insider Transactions at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction 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 sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. The trade was a 33.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the 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 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Kontoor Brands Company 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.