AMG National Trust Bank Has $24.78 Million Stake in Kontoor Brands, Inc. (NYSE:KTB)

AMG National Trust Bank trimmed its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 303,061 shares of the company’s stock after selling 108,993 shares during the period. AMG National Trust Bank owned about 0.55% of Kontoor Brands worth $24,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Swiss National Bank grew its position in Kontoor Brands by 0.3% in the first quarter. Swiss National Bank now owns 99,814 shares of the company’s stock valued at $6,014,000 after purchasing an additional 300 shares in the last quarter. ProShare Advisors LLC grew its position in Kontoor Brands by 7.5% in the first quarter. ProShare Advisors LLC now owns 11,198 shares of the company’s stock valued at $675,000 after purchasing an additional 780 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Kontoor Brands by 21.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 19,553 shares of the company’s stock valued at $1,178,000 after purchasing an additional 3,500 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Kontoor Brands by 44.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock valued at $1,465,000 after purchasing an additional 7,466 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in Kontoor Brands in the first quarter valued at $651,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KTB shares. UBS Group lifted their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a research 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 research report on Friday, November 1st. Finally, Barclays lifted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $1,467,227.09. The trade was a 33.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the completion of the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This 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 currently owned by insiders.

Kontoor Brands Stock Down 0.7 %

NYSE KTB opened at $90.14 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.33 and a beta of 1.19. The company has a 50 day moving average of $80.82 and a 200-day moving average of $73.49. Kontoor Brands, Inc. has a 1-year low of $51.46 and a 1-year high of $92.48.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company 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 $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 annualized dividend and a dividend yield of 2.31%. Kontoor Brands’s payout ratio is presently 45.05%.

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.