Allspring Global Investments Holdings LLC Has $21.13 Million Stock Position in Kontoor Brands, Inc. $KTB

Allspring Global Investments Holdings LLC grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 54.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 298,072 shares of the company’s stock after acquiring an additional 104,466 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kontoor Brands were worth $21,133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KTB. JPMorgan Chase & Co. increased 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 buying an additional 413,005 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kontoor Brands by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company’s stock worth $86,741,000 after purchasing an additional 13,725 shares in the last quarter. Morgan Stanley raised its position in Kontoor Brands by 8.8% in the fourth quarter. Morgan Stanley now owns 1,283,592 shares of the company’s stock valued at $78,415,000 after purchasing an additional 104,296 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kontoor Brands by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,261,859 shares of the company’s stock valued at $77,088,000 after purchasing an additional 15,213 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Kontoor Brands by 8.9% during the fourth quarter. Jennison Associates LLC now owns 1,214,831 shares of the company’s stock valued at $74,214,000 after purchasing an additional 99,593 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Insider Transactions at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares in the company, valued at approximately $3,261,946.22. The trade was a 9.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KTB. Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. Wall Street Zen lowered shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. began coverage on shares of Kontoor Brands in a report on Monday, June 8th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, BTIG Research restated a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

Kontoor Brands Trading Down 2.7%

Shares of KTB stock opened at $83.30 on Tuesday. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 16.86 and a beta of 0.87. The stock has a 50-day moving average of $76.55 and a 200-day moving average of $70.68. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. Kontoor Brands, Inc. has a 1-year low of $53.55 and a 1-year high of $88.96.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The company had revenue of $613.32 million for the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.Kontoor Brands’s revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, equities research analysts forecast that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, June 8th. This represents a $2.12 annualized dividend and a yield of 2.5%. Kontoor Brands’s dividend payout ratio (DPR) is presently 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.