Thomas L. Doerr Jr., Executive Vice President, General Counsel, and Secretary at Kontoor Brands , Inc. (NYSE:KTB), recently sold 9,038 shares of the company's common stock. The shares were sold at a weighted average price of $80.714, with transactions ranging from $80.710 to $80.795, resulting in a total transaction value of approximately $729,545. Following this sale, Doerr retains ownership of 18,179 shares, which includes restricted stock units. Kontoor Brands is headquartered in Greensboro, North Carolina.
In other recent news, Kontoor Brands reported strong Q3 results, surpassing market expectations with a 2% rise in global revenue and adjusted earnings per share increasing by 12% to $1.37. Despite a 3% decline in the Lee brand's global revenue, the company anticipates a full-year revenue of $2.6 billion and a Q4 revenue of approximately $695 million. Kontoor Brands' Project Genius initiative is expected to deliver $100 million in savings, driving an estimated 4% revenue growth in the first half of 2025. However, Stifel recently downgraded Kontoor Brands from Buy to Hold, citing potential risk factors like reliance on Walmart (NYSE:WMT) as a major customer and commodity price volatility. The firm did acknowledge the potential for margin improvement in fiscal years 2025 and 2026, thanks to Project Genius. In other company news, Kontoor Brands returned $168 million to shareholders and increased dividends by 4%. These are some of the recent developments that investors should keep an eye on.
InvestingPro Insights
The recent stock sale by Thomas L. Doerr Jr. comes at a time when Kontoor Brands (NYSE:KTB) is experiencing strong market performance. According to InvestingPro data, the company's stock has shown a remarkable 74.35% total return over the past year, and a 26.1% return in the last six months alone. This robust performance aligns with an InvestingPro Tip highlighting KTB's "High return over the last year."
Despite the insider sale, Kontoor Brands maintains a solid financial position. The company's market capitalization stands at $4.65 billion, with a price-to-earnings ratio of 17.74, suggesting a reasonable valuation relative to earnings. An InvestingPro Tip notes that KTB "Operates with a moderate level of debt," which could provide financial flexibility for future growth initiatives.
Investors should also consider that Kontoor Brands has been consistently rewarding shareholders, as evidenced by another InvestingPro Tip stating the company "Has raised its dividend for 4 consecutive years." With a current dividend yield of 2.55%, KTB offers an attractive income component to its stock.
For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips on Kontoor Brands, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.