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Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by BNP Paribas Financial Markets

Kontoor Brands logo with Consumer Discretionary background

BNP Paribas Financial Markets cut its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,610 shares of the company's stock after selling 7,333 shares during the period. BNP Paribas Financial Markets owned 0.06% of Kontoor Brands worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Kontoor Brands by 8,078.0% in the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company's stock valued at $2,341,000 after acquiring an additional 28,273 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company's stock valued at $57,000 after purchasing an additional 244 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Kontoor Brands in the third quarter valued at approximately $4,799,000. Sei Investments Co. increased its holdings in shares of Kontoor Brands by 78.9% in the second quarter. Sei Investments Co. now owns 52,658 shares of the company's stock valued at $3,483,000 after purchasing an additional 23,223 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Kontoor Brands during the third quarter worth approximately $1,002,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on KTB shares. UBS Group upped their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a "buy" rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a "buy" rating to a "hold" rating and upped their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Get Our Latest Research Report on Kontoor Brands

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the transaction, the chief executive officer now directly owns 331,916 shares in the company, valued at $27,748,177.60. This represents a 26.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business's 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 sale, the executive vice president now owns 18,179 shares of the company's stock, valued at $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 Stock Down 2.6 %

NYSE:KTB traded down $2.38 during midday trading on Friday, reaching $89.90. The company had a trading volume of 580,269 shares, compared to its average volume of 350,058. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $94.82. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.43 and a beta of 1.20. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The stock's fifty day simple moving average is $85.27 and its 200-day simple moving average is $75.91.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (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 company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same quarter last year, the company earned $1.22 EPS. Kontoor Brands's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share 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. Shareholders of record on Monday, December 9th will be given a $0.52 dividend. The ex-dividend date is Monday, December 9th. This is an increase from Kontoor Brands's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. Kontoor Brands's dividend payout ratio is currently 45.05%.

About Kontoor Brands

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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