BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 27,283 Kontoor Brands, Inc. $KTB

BI Asset Management Fondsmaeglerselskab A S bought a new position in Kontoor Brands, Inc. (NYSE:KTB) in the first quarter, HoldingsChannel reports. The fund bought 27,283 shares of the company’s stock, valued at approximately $1,918,000.

Other institutional investors also recently modified their holdings of the company. Corient Private Wealth LLC increased 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. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Kontoor Brands during the fourth quarter worth $147,000. T. Rowe Price Investment Management Inc. boosted its position in Kontoor Brands by 23.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,136,443 shares of the company’s stock valued at $69,426,000 after purchasing an additional 215,621 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Kontoor Brands during the fourth quarter valued at $216,000. Finally, State of Tennessee Department of Treasury grew its stake in Kontoor Brands by 6.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 29,164 shares of the company’s stock valued at $1,742,000 after purchasing an additional 1,707 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 40,261 shares in the company, valued at approximately $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $76.96 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. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 15.58 and a beta of 0.89. The business’s 50-day simple moving average is $72.60 and its 200-day simple moving average is $68.27. Kontoor Brands, Inc. has a 52 week low of $53.55 and a 52 week high of $87.00.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.06 earnings per share 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 company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same period in the previous year, the business posted $1.20 earnings per share. The firm’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 research analysts expect that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on KTB. Zacks Research lowered Kontoor Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and set a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. Stifel Nicolaus boosted their price target on Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company boosted their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, UBS Group increased their price objective on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.20.

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.