Community Bank of Raymore Invests $222,000 in Kontoor Brands, Inc. (NYSE:KTB)

Community Bank of Raymore acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,594 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands in the 3rd quarter valued at approximately $30,000. Kennebec Savings Bank acquired a new position in Kontoor Brands in the third quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its position in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the period. Fortitude Family Office LLC increased its stake in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Kontoor Brands in the third quarter valued at $48,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction on 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 sale, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This trade represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KTB. Guggenheim increased their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group increased their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Barclays boosted their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $86.10 on Monday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week high of $94.82. The firm has a market cap of $4.75 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20. The company’s 50 day moving average is $88.47 and its two-hundred day moving average is $79.54.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 9th. Kontoor Brands’s dividend payout ratio is presently 46.85%.

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.