Integrated Wealth Concepts LLC Sells 8,443 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Integrated Wealth Concepts LLC decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 73.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,005 shares of the company's stock after selling 8,443 shares during the period. Integrated Wealth Concepts LLC's holdings in Kontoor Brands were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SG Americas Securities LLC raised its position in shares of Kontoor Brands by 5.0% during the 2nd quarter. SG Americas Securities LLC now owns 3,544 shares of the company's stock worth $234,000 after purchasing an additional 169 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Kontoor Brands by 3.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company's stock valued at $329,000 after buying an additional 175 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kontoor Brands by 72.4% during the second quarter. Blue Trust Inc. now owns 1,571 shares of the company's stock valued at $95,000 after acquiring an additional 660 shares during the period. Raymond James & Associates grew its position in shares of Kontoor Brands by 10.7% during the second quarter. Raymond James & Associates now owns 22,874 shares of the company's stock worth $1,513,000 after acquiring an additional 2,204 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Kontoor Brands by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company's stock worth $1,654,000 after acquiring an additional 200 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were 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 approximately $1,467,227.09. This represents a 33.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $27,748,177.60. This represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

KTB has been the topic of a number of research analyst reports. UBS Group raised their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a "buy" rating in a report on Friday, November 1st. Barclays increased their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Stifel Nicolaus cut shares of Kontoor Brands from a "buy" rating to a "hold" rating and raised their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company upped their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Guggenheim upped their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded down $0.37 during midday trading on Friday, hitting $88.86. The company had a trading volume of 274,924 shares, compared to its average volume of 479,606. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $94.82. The business's 50 day simple moving average is $86.11 and its two-hundred day simple moving average is $76.48. The stock has a market cap of $4.90 billion, a PE ratio of 20.01, a P/E/G ratio of 2.31 and a beta of 1.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.34%. Kontoor Brands's dividend payout ratio (DPR) is currently 46.85%.

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.