Fifth Third Bancorp Purchases 81,382 Shares of Kontoor Brands, Inc. $KTB

Fifth Third Bancorp grew its position in Kontoor Brands, Inc. (NYSE:KTB) by 5,635.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 82,826 shares of the company’s stock after purchasing an additional 81,382 shares during the quarter. Fifth Third Bancorp’s holdings in Kontoor Brands were worth $5,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after acquiring an additional 413,005 shares during the period. Geode Capital Management LLC raised its position in Kontoor Brands by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company’s stock valued at $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% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kontoor Brands by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,261,859 shares of the company’s stock worth $77,088,000 after purchasing an additional 15,213 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Kontoor Brands by 8.9% during the fourth quarter. Jennison Associates LLC now owns 1,214,831 shares of the company’s stock worth $74,214,000 after purchasing an additional 99,593 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $87.61 on Friday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 17.73 and a beta of 0.87. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $76.00 and a 200 day simple moving average of $70.36. Kontoor Brands, Inc. has a one year low of $53.55 and a one year high of $88.85.

Kontoor Brands (NYSE:KTB) last posted its earnings results 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). 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%.The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Research analysts predict that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Kontoor Brands’s dividend payout ratio (DPR) is 42.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KTB shares. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. began coverage on Kontoor Brands in a report on Monday, June 8th. They set an “overweight” rating and a $90.00 price target for the company. Barclays upped their price objective on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings lowered Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Finally, Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.20.

Insider Buying and Selling at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the sale, the executive vice president owned 40,261 shares in the company, valued at $3,261,946.22. The trade was a 9.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.