Blue Trust Inc. Has $95,000 Stake in Kontoor Brands, Inc. (NYSE:KTB)

Blue Trust Inc. lifted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 72.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,571 shares of the company’s stock after purchasing an additional 660 shares during the period. Blue Trust Inc.’s holdings in Kontoor Brands were worth $95,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Kontoor Brands during the fourth quarter worth $1,364,000. Strs Ohio lifted its position in Kontoor Brands by 480.0% during the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock valued at $181,000 after purchasing an additional 2,400 shares during the period. Mackenzie Financial Corp bought a new position in shares of Kontoor Brands in the 4th quarter valued at about $220,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kontoor Brands by 11.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,506 shares of the company’s stock worth $718,000 after buying an additional 1,160 shares during the period. Finally, Xponance Inc. bought a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $213,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Down 0.8 %

NYSE:KTB opened at $71.41 on Wednesday. Kontoor Brands, Inc. has a 1 year low of $39.90 and a 1 year high of $74.90. The stock has a 50-day moving average price of $68.08 and a two-hundred day moving average price of $64.81. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.88 and a beta of 1.16. The company has a current ratio of 2.74, a quick ratio of 1.42 and a debt-to-equity ratio of 2.04.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts expect that Kontoor Brands, Inc. will post 4.8 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KTB shares. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Barclays raised their price target on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Guggenheim raised their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.83.

Insider Buying and Selling at Kontoor Brands

In related news, CAO Susan Denise Sumner sold 4,713 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the transaction, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the completion of the transaction, the chief executive officer now owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.