Quest Partners LLC Buys 9,830 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Quest Partners LLC grew its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 2,368.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,245 shares of the company's stock after purchasing an additional 9,830 shares during the quarter. Quest Partners LLC's holdings in Kontoor Brands were worth $838,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its stake in shares of Kontoor Brands by 44.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company's stock valued at $1,465,000 after acquiring an additional 7,466 shares in the last quarter. Magnetar Financial LLC acquired a new position in Kontoor Brands in the first quarter worth about $1,508,000. GAMMA Investing LLC grew its stake in Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company's stock worth $57,000 after purchasing an additional 244 shares in the last quarter. International Assets Investment Management LLC grew its stake in Kontoor Brands by 8,078.0% in the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company's stock worth $2,341,000 after purchasing an additional 28,273 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Kontoor Brands by 78.9% in the second quarter. Sei Investments Co. now owns 52,658 shares of the company's stock worth $3,483,000 after purchasing an additional 23,223 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus downgraded Kontoor Brands from a "buy" rating to a "hold" rating and lifted their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays raised their target price 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. UBS Group lifted 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. Wells Fargo & Company lifted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Guggenheim boosted their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Insider Activity at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the business's 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 in the company, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. The trade was a 33.21 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Kontoor Brands Stock Up 4.0 %

Shares of Kontoor Brands stock traded up $3.51 on Friday, hitting $91.36. 318,620 shares of the company traded hands, compared to its average volume of 482,015. The company has a 50-day moving average price of $82.20 and a 200 day moving average price of $74.10. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12-month low of $52.82 and a 12-month high of $92.48. The company has a market cap of $5.04 billion, a PE ratio of 20.58, a PEG ratio of 2.35 and a beta of 1.19.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) 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 business had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same quarter in the previous year, the business earned $1.22 EPS. Kontoor Brands's quarterly revenue was up 2.4% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands's previous quarterly dividend of $0.50. Kontoor Brands's payout ratio is presently 46.85%.

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.