Kennedy Capital Management LLC raised its position in Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 88.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 220,259 shares of the company’s stock after purchasing an additional 103,158 shares during the period. Kennedy Capital Management LLC’s holdings in Kontoor Brands were worth $13,456,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KTB. Norges Bank purchased a new stake in Kontoor Brands in the fourth quarter valued at approximately $36,185,000. Boston Partners acquired a new stake in shares of Kontoor Brands during the third quarter worth $44,733,000. JPMorgan Chase & Co. lifted its holdings in shares of Kontoor Brands by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after purchasing an additional 413,005 shares during the period. Amundi purchased a new position in Kontoor Brands in the 3rd quarter valued at $24,653,000. Finally, Balyasny Asset Management L.P. increased its stake in Kontoor Brands by 134.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after buying an additional 268,604 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.
Wall Street Analyst Weigh In
KTB has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Kontoor Brands in a research note on Monday, June 8th. They issued an “overweight” rating and a $90.00 price objective on the stock. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Barclays boosted their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.20.
Kontoor Brands Trading Up 0.1%
Shares of KTB stock opened at $79.09 on Monday. The business’s fifty day moving average price is $71.61 and its 200 day moving average price is $68.15. Kontoor Brands, Inc. has a 1-year low of $53.55 and a 1-year high of $87.00. The firm has a market capitalization of $4.37 billion, a PE ratio of 16.01 and a beta of 0.89. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10.
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The business had revenue of $613.32 million for the quarter, compared to analyst estimates of $784.76 million. During the same period in the prior year, the company earned $1.20 EPS. The company’s 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, sell-side analysts forecast that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s dividend payout ratio is currently 42.91%.
Kontoor Brands Profile
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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