Kontoor Brands, Inc. (NYSE:KTB) COO Christopher Waldeck Sells 35,684 Shares

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

The business also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Friday, March 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.89%. Kontoor Brands’s dividend payout ratio (DPR) is presently 44.65%.

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

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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.