Cibc World Market Inc. Buys Shares of 31,952 Kontoor Brands, Inc. $KTB

Cibc World Market Inc. bought a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,952 shares of the company’s stock, valued at approximately $1,952,000. Cibc World Market Inc. owned about 0.06% of Kontoor Brands at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. UBS Group AG raised its position in Kontoor Brands by 3.8% in the fourth quarter. UBS Group AG now owns 551,758 shares of the company’s stock valued at $33,707,000 after purchasing an additional 20,270 shares during the last quarter. Skba Capital Management LLC raised its position in Kontoor Brands by 14.5% in the third quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock valued at $22,646,000 after purchasing an additional 35,980 shares during the last quarter. Fieldview Capital Management LLC raised its position in Kontoor Brands by 50.8% in the third quarter. Fieldview Capital Management LLC now owns 57,491 shares of the company’s stock valued at $4,586,000 after purchasing an additional 19,363 shares during the last quarter. Capital World Investors raised its position in Kontoor Brands by 8.5% in the third quarter. Capital World Investors now owns 1,276,410 shares of the company’s stock valued at $101,819,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Kontoor Brands by 18.1% in the third quarter. Victory Capital Management Inc. now owns 227,351 shares of the company’s stock valued at $18,136,000 after purchasing an additional 34,788 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KTB. JPMorgan Chase & Co. began coverage on Kontoor Brands in a research report on Monday. They set an “overweight” rating and a $90.00 price objective for the company. The Goldman Sachs Group lifted their target price on Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Zacks Research downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings upgraded Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, UBS Group lifted their target price on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

Kontoor Brands Trading Up 6.7%

Shares of Kontoor Brands stock opened at $77.09 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. Kontoor Brands, Inc. has a 52 week low of $53.55 and a 52 week high of $87.00. The stock has a 50 day moving average price of $71.04 and a two-hundred day moving average price of $67.97. The stock has a market capitalization of $4.26 billion, a PE ratio of 15.60 and a beta of 0.89.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.06 EPS 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 firm had revenue of $613.32 million during the quarter, compared to analyst estimates of $784.76 million. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s dividend payout ratio (DPR) is 42.91%.

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.