PNC Financial Services Group Inc. lessened its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 6,762,221 shares of the company’s stock after selling 72,853 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of Kontoor Brands worth $413,104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC raised its position in Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock worth $27,000 after purchasing an additional 330 shares during the period. Assetmark Inc. boosted its stake in Kontoor Brands by 532.3% in the third quarter. Assetmark Inc. now owns 392 shares of the company’s stock valued at $31,000 after acquiring an additional 330 shares in the last quarter. Torren Management LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $27,000. Private Trust Co. NA acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $31,000. Finally, iSAM Funds UK Ltd acquired a new position in Kontoor Brands during the 3rd quarter valued at approximately $44,000. Institutional investors own 93.06% of the company’s stock.
Analyst Upgrades and Downgrades
KTB has been the topic of several research analyst reports. Zacks Research downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. BTIG Research restated a “buy” rating and set a $100.00 price target on shares of Kontoor Brands in a research report on Friday, May 1st. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Finally, Jefferies Financial Group started coverage on shares of Kontoor Brands in a research report on Wednesday, February 4th. They set a “hold” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.33.
Kontoor Brands Trading Down 0.5%
NYSE KTB opened at $63.91 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. Kontoor Brands, Inc. has a 52 week low of $53.55 and a 52 week high of $87.00. The stock has a market capitalization of $3.53 billion, a PE ratio of 12.94 and a beta of 0.91. The firm has a 50 day moving average of $70.34 and a two-hundred day moving average of $68.25.
Kontoor Brands (NYSE:KTB – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company had revenue of $613.32 million during the quarter, compared to analyst estimates of $784.76 million. During the same quarter in the previous year, the company posted $1.20 EPS. The company’s quarterly revenue was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, June 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 42.91%.
About Kontoor Brands
Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.
Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.
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