Kontoor Brands, Inc. (NYSE:KTB) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in Kontoor Brands, Inc. (NYSE:KTB) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,786,250 shares of the company’s stock after purchasing an additional 44,287 shares during the quarter. Pacer Advisors Inc. owned about 3.24% of Kontoor Brands worth $152,564,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after acquiring an additional 11,337 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at about $332,000. International Assets Investment Management LLC grew its holdings in shares of Kontoor Brands by 8,078.0% during the 3rd 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 during the period. Natixis Advisors LLC increased its position in Kontoor Brands by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock worth $1,422,000 after purchasing an additional 1,087 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s 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 completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the 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 directly owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group upped their price target 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 lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Barclays boosted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Guggenheim increased their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Performance

NYSE:KTB opened at $91.44 on Monday. The firm has a 50-day moving average of $88.36 and a two-hundred day moving average of $80.29. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market cap of $5.04 billion, a P/E ratio of 20.59, a PEG ratio of 2.11 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.

Kontoor Brands (NYSE:KTB) last released 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 return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

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.