58,679 Shares in Kontoor Brands, Inc. (NYSE:KTB) Purchased by LMR Partners LLP

LMR Partners LLP purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,679 shares of the company's stock, valued at approximately $4,799,000. LMR Partners LLP owned approximately 0.11% of Kontoor Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of KTB. Arizona State Retirement System raised its position in Kontoor Brands by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 14,050 shares of the company's stock valued at $929,000 after purchasing an additional 154 shares in the last quarter. SG Americas Securities LLC lifted its stake in Kontoor Brands by 5.0% in the second quarter. SG Americas Securities LLC now owns 3,544 shares of the company's stock worth $234,000 after acquiring an additional 169 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Kontoor Brands by 3.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company's stock worth $329,000 after acquiring an additional 175 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Kontoor Brands by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company's stock valued at $1,654,000 after purchasing an additional 200 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Kontoor Brands by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company's stock valued at $616,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

KTB traded up $0.25 during midday trading on Tuesday, hitting $90.91. 223,589 shares of the company were exchanged, compared to its average volume of 483,344. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company's 50 day simple moving average is $81.19 and its 200 day simple moving average is $73.73. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $51.76 and a 1-year high of $92.48.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating 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 firm had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same period in the previous year, the firm earned $1.22 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend 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 dividend yield of 2.29%. Kontoor Brands's dividend payout ratio (DPR) is 45.05%.

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 33.21 % 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. Also, CEO Scott H. Baxter sold 119,160 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was 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. This trade represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

KTB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" 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 price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim boosted 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, Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and a consensus price target of $95.00.

About Kontoor Brands

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.