Kontoor Brands, Inc. (NYSE:KTB – Get Free Report)’s share price traded down 3.2% on Thursday . The stock traded as low as $66.28 and last traded at $66.1560. Approximately 119,676 shares traded hands during trading, a decline of 85% from the average daily volume of 797,853 shares. The stock had previously closed at $68.37.
Analyst Ratings Changes
A number of research firms have recently weighed in on KTB. JPMorgan Chase & Co. boosted their price target on 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 Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. Barclays boosted their target price on shares of Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of Kontoor Brands in a report on Tuesday. Finally, Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.
View Our Latest Research Report on KTB
Kontoor Brands Stock Performance
Kontoor Brands (NYSE:KTB – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $1.06 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 firm had revenue of $584.29 million during the quarter, compared to analyst estimates of $586.95 million. During the same period in the prior year, the firm posted $1.33 earnings per share. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Research analysts forecast that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.
Kontoor Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 8th. Kontoor Brands’s dividend payout ratio is presently 44.26%.
Insider Activity
In related news, CEO Scott Baxter sold 184,403 shares of the firm’s stock in a transaction that occurred 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 trade represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Doerr, Jr. sold 7,660 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the sale, the executive vice president directly owned 25,063 shares in the company, valued at $2,091,006.09. This represents a 23.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Kontoor Brands
A number of hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter worth $26,000. CENTRAL TRUST Co purchased a new stake in Kontoor Brands during the first quarter valued at about $35,000. Bell Investment Advisors Inc acquired a new stake in Kontoor Brands during the second quarter worth about $42,000. Hantz Financial Services Inc. increased its stake in Kontoor Brands by 196.2% during the fourth quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock worth $34,000 after acquiring an additional 365 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Kontoor Brands in the 2nd quarter worth about $61,000. Institutional investors and hedge funds 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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