BTIG Research reiterated their buy rating on shares of Kontoor Brands (NYSE:KTB – Free Report) in a report issued on Tuesday morning,Benzinga reports. They currently have a $105.00 price objective on the stock.
A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted 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. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Barclays raised their price target 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. Finally, Weiss Ratings cut shares of Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.
Read Our Latest Stock Analysis on Kontoor Brands
Kontoor Brands Stock Performance
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $584.29 million for the quarter, compared to analysts’ expectations of $586.95 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Kontoor Brands’s quarterly 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. Equities analysts anticipate that Kontoor Brands will post 5.27 earnings per share for the current fiscal year.
Kontoor Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 annualized dividend and a yield of 3.2%. Kontoor Brands’s payout ratio is currently 44.26%.
Insiders Place Their Bets
In other Kontoor Brands news, EVP Thomas Doerr, Jr. sold 7,660 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $83.43, for a total value of $639,073.80. Following the completion of the transaction, the executive vice president owned 25,063 shares in the company, valued at $2,091,006.09. This represents a 23.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Baxter sold 184,403 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $83.40, for a total value of $15,379,210.20. Following the sale, the chief executive officer directly owned 261,786 shares of the company’s stock, valued at approximately $21,832,952.40. This represents a 41.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Kontoor Brands
Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position 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 buying an additional 134 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Kontoor Brands by 9.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock valued at $110,000 after buying an additional 162 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kontoor Brands by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,701 shares of the company’s stock worth $715,000 after acquiring an additional 216 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Kontoor Brands by 6.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,317 shares of the company’s stock worth $303,000 after acquiring an additional 245 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Kontoor Brands by 2.8% in the fourth quarter. Corient Private Wealth LLC now owns 10,402 shares of the company’s stock worth $636,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.
Kontoor Brands Company Profile
Kontoor Brands, Inc (NYSE: KTB) is a global lifestyle apparel company that designs, manufactures, sources and markets branded clothing and accessories. The company is best known for its denim and casualwear businesses, serving consumers through wholesale distributors, department and specialty stores, company-operated retail locations and e-commerce channels.
Kontoor’s principal brands include Wrangler, a heritage brand focused on denim, westernwear, workwear and casual apparel, and Lee, which offers denim and lifestyle clothing for men, women and children.
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