Zacks Research upgraded shares of Kontoor Brands (NYSE:KTB – Free Report) from a strong sell rating to a hold rating in a research report released on Thursday,Zacks.com reports.
KTB has been the topic of a number of other research reports. JPMorgan Chase & Co. assumed coverage on Kontoor Brands in a research report on Monday, June 8th. They issued an “overweight” rating and a $90.00 target price on the stock. Weiss Ratings cut Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. BTIG Research restated a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a research note on Friday, May 1st. Barclays boosted their price target on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $91.20.
Get Our Latest Stock Report on KTB
Kontoor Brands Stock Up 1.8%
Kontoor Brands (NYSE:KTB – Get Free Report) last released its earnings results 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 net margin of 8.30% and a return on equity of 60.17%. The business had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same period last year, the business posted $1.20 EPS. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Sell-side analysts predict that Kontoor Brands will post 5.2 earnings per share for the current fiscal year.
Kontoor Brands Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, June 8th. Kontoor Brands’s dividend payout ratio (DPR) is 42.91%.
Insider Buying and Selling
In related news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the completion of the transaction, the executive vice president owned 40,261 shares in the company, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
Institutional Trading of Kontoor Brands
A number of hedge funds have recently made changes to their positions in KTB. Handelsbanken Fonder AB boosted its stake in shares of Kontoor Brands by 14.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 25,992 shares of the company’s stock worth $2,166,000 after acquiring an additional 3,300 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Kontoor Brands in the 2nd quarter valued at $303,000. Baron Wealth Management LLC bought a new stake in Kontoor Brands in the 2nd quarter valued at $265,000. GAMMA Investing LLC lifted its holdings in Kontoor Brands by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock valued at $166,000 after purchasing an additional 134 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Kontoor Brands during the 2nd quarter valued at $61,000. 93.06% of the stock is owned by institutional investors and hedge funds.
Kontoor Brands Company 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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