Oppenheimer & Co. Inc. Has $5.95 Million Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Oppenheimer & Co. Inc. trimmed its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,723 shares of the company’s stock after selling 1,025 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.13% of Kontoor Brands worth $5,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Millennium Management LLC lifted its stake in Kontoor Brands by 351.7% in the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock valued at $22,976,000 after acquiring an additional 270,427 shares during the last quarter. Marshall Wace LLP lifted its stake 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 purchasing an additional 205,885 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Kontoor Brands by 10.9% in the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock worth $135,187,000 after purchasing an additional 201,399 shares in the last quarter. Bwcp LP bought a new stake in Kontoor Brands in the second quarter worth $11,890,000. Finally, Squarepoint Ops LLC increased its position in Kontoor Brands by 123.7% during the second quarter. Squarepoint Ops LLC now owns 220,065 shares of the company’s stock worth $14,557,000 after buying an additional 121,689 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands 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 sale, the chief executive officer now owns 331,916 shares in the company, 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. Corporate insiders own 2.60% of the company’s stock.

Kontoor Brands Trading Up 0.5 %

Shares of Kontoor Brands stock opened at $90.77 on Friday. Kontoor Brands, Inc. has a 1 year low of $51.12 and a 1 year high of $92.48. The company’s fifty day simple moving average is $80.10 and its 200-day simple moving average is $73.10. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.34 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a $0.52 dividend. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 annualized dividend and a yield of 2.29%. Kontoor Brands’s dividend payout ratio is 46.85%.

Analyst Upgrades and Downgrades

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

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.