Jane Street Group LLC Trims Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Jane Street Group LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 64.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,574 shares of the company's stock after selling 102,765 shares during the period. Jane Street Group LLC owned 0.10% of Kontoor Brands worth $4,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after purchasing an additional 26,759 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Kontoor Brands by 10.9% during the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company's stock worth $135,187,000 after buying an additional 201,399 shares during the period. Victory Capital Management Inc. increased its position in shares of Kontoor Brands by 1.0% during the second quarter. Victory Capital Management Inc. now owns 1,270,540 shares of the company's stock valued at $84,046,000 after acquiring an additional 12,019 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 60,926 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock worth $61,942,000 after acquiring an additional 320,117 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

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 on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the transaction, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction on 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 directly owns 331,916 shares in the company, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Kontoor Brands Stock Down 2.1 %

Shares of Kontoor Brands stock traded down $1.87 on Wednesday, reaching $85.70. 454,503 shares of the company were exchanged, compared to its average volume of 480,052. The stock's 50 day moving average price is $86.57 and its 200-day moving average price is $76.84. The company has a market cap of $4.73 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $94.82. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping 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 company had revenue of $670.19 million during the quarter, compared to analysts' expectations of $663.45 million. During the same quarter in the previous year, the business posted $1.22 EPS. The firm's revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Kontoor Brands, Inc. will post 4.83 EPS for the current 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 $0.52 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.43%. Kontoor Brands's dividend payout ratio (DPR) is currently 46.85%.

Wall Street Analyst Weigh In

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

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.