Kontoor Brands, Inc. (NYSE:KTB) Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313 shares of the company’s stock after selling 396 shares during the period. Coston McIsaac & Partners’ holdings in Kontoor Brands were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $102,000. Nilsine Partners LLC raised its stake in Kontoor Brands by 9.8% in the fourth quarter. Nilsine Partners LLC now owns 21,082 shares of the company’s stock valued at $1,801,000 after buying an additional 1,886 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Kontoor Brands by 2.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after buying an additional 44,287 shares during the last quarter. KBC Group NV boosted its position in shares of Kontoor Brands by 52.2% during the 4th quarter. KBC Group NV now owns 2,024 shares of the company’s stock worth $173,000 after acquiring an additional 694 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Kontoor Brands in the 4th quarter valued at about $154,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Activity at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands 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 completion of the sale, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Kontoor Brands Stock Performance

NYSE KTB opened at $92.87 on Thursday. The business’s 50-day moving average price is $88.43 and its 200 day moving average price is $80.80. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $95.25. The firm has a market cap of $5.12 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.11 and a beta of 1.20. 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 (NYSE:KTB) last issued its 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 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 period last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 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 lifted their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays upped their price objective 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. UBS Group lifted their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.