Pinnbrook Capital Management LP bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 24,500 shares of the company’s stock, valued at approximately $2,042,000.
A number of other large investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kontoor Brands in the second quarter worth about $251,000. Paralel Advisors LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter valued at about $2,740,000. Allworth Financial LP purchased a new position in Kontoor Brands during the second quarter worth approximately $715,000. Vise Technologies Inc. purchased a new position in Kontoor Brands during the second quarter worth approximately $313,000. Finally, Great Lakes Advisors LLC acquired a new stake in Kontoor Brands in the second quarter valued at approximately $1,200,000. 93.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on KTB. Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. Barclays increased their target price on shares of Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. UBS Group upped their target price on Kontoor Brands from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s 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 Price Performance
Shares of KTB opened at $82.03 on Friday. The stock’s 50 day moving average is $82.51 and its two-hundred day moving average is $74.45. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $4.48 billion, a PE ratio of 17.13 and a beta of 0.88. Kontoor Brands, Inc. has a twelve month low of $56.19 and a twelve month high of $88.96.
Kontoor Brands (NYSE:KTB – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%.The business had revenue of $584.29 million during the quarter, compared to the consensus estimate of $586.95 million. During the same quarter in the previous year, the company posted $1.33 EPS. The business’s revenue was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Research analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.
Kontoor Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s payout ratio is 44.26%.
Insiders Place Their Bets
In related news, CEO Scott H. Baxter sold 184,403 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.40, for a total transaction of $15,379,210.20. Following the completion of the sale, the chief executive officer owned 261,786 shares of the company’s stock, valued at $21,832,952.40. This represents a 41.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president directly owned 40,261 shares of the company’s stock, valued at $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 196,063 shares of company stock worth $16,342,364 over the last quarter. 1.80% of the stock is owned by corporate insiders.
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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