Integrated Wealth Concepts LLC Has $246,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Integrated Wealth Concepts LLC lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 73.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,005 shares of the company’s stock after selling 8,443 shares during the period. Integrated Wealth Concepts LLC’s holdings in Kontoor Brands were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KTB. Jennison Associates LLC boosted its stake in Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after acquiring an additional 320,117 shares during the last quarter. Millennium Management LLC boosted its position in shares of Kontoor Brands by 351.7% during the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after purchasing an additional 270,427 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Kontoor Brands by 159.0% in the 2nd quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock valued at $22,186,000 after buying an additional 205,885 shares during the period. Pacer Advisors Inc. increased its position in shares of Kontoor Brands by 10.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after buying an additional 201,399 shares in the last quarter. Finally, Bwcp LP acquired a new stake in Kontoor Brands during the 2nd quarter worth $11,890,000. 93.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kontoor Brands Price Performance

NYSE KTB opened at $88.89 on Friday. The firm’s 50 day moving average is $85.93 and its 200-day moving average is $76.37. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.90 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $94.82.

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 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 the consensus estimate of $663.45 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.34%. 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 dividend payout ratio is presently 46.85%.

Insider Buying and Selling

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 transaction of $729,537.69. Following the transaction, the executive vice president now directly owns 18,179 shares in the company, valued at $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 this link. Also, CEO Scott H. Baxter sold 119,160 shares of the company’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 completion of the sale, the chief executive officer now directly owns 331,916 shares in the company, valued at approximately $27,748,177.60. The trade was 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 corporate insiders.

Kontoor Brands Company 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.