Kontoor Brands, Inc. (NYSE:KTB – Get Rating) COO Christopher Waldeck sold 35,684 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $50.99, for a total value of $1,819,527.16. Following the completion of the sale, the chief operating officer now owns 92,252 shares of the company’s stock, valued at $4,703,929.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Kontoor Brands Stock Down 3.0 %
Shares of KTB opened at $49.37 on Friday. Kontoor Brands, Inc. has a one year low of $30.98 and a one year high of $53.83. The company has a market cap of $2.74 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.33 and a beta of 1.16. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.23 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $47.62 and a two-hundred day simple moving average of $41.65.
Kontoor Brands (NYSE:KTB – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $731.60 million during the quarter, compared to the consensus estimate of $666.78 million. Kontoor Brands had a net margin of 9.33% and a return on equity of 124.39%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts forecast that Kontoor Brands, Inc. will post 4.75 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on Kontoor Brands from $54.00 to $66.00 in a research note on Wednesday, March 8th. Williams Trading upgraded Kontoor Brands from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, January 31st. Guggenheim cut their price target on Kontoor Brands from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 15th. Barclays boosted their price target on Kontoor Brands from $37.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 7th. Finally, Wells Fargo & Company boosted their price target on Kontoor Brands from $48.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.25.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of KTB. TCTC Holdings LLC increased its holdings in shares of Kontoor Brands by 360.4% during the fourth quarter. TCTC Holdings LLC now owns 686 shares of the company’s stock worth $27,000 after buying an additional 537 shares in the last quarter. CWM LLC increased its holdings in shares of Kontoor Brands by 34.6% during the fourth quarter. CWM LLC now owns 867 shares of the company’s stock worth $35,000 after buying an additional 223 shares in the last quarter. Gyon Technologies Capital Management LP acquired a new position in shares of Kontoor Brands during the fourth quarter worth $58,000. Coston McIsaac & Partners acquired a new position in shares of Kontoor Brands during the second quarter worth $68,000. Finally, Salem Investment Counselors Inc. increased its holdings in Kontoor Brands by 146.1% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,927 shares of the company’s stock valued at $77,000 after purchasing an additional 1,144 shares during the period.
Kontoor Brands Company Profile
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.
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