32,874 Shares in Kontoor Brands, Inc. $KTB Purchased by Paralel Advisors LLC

Paralel Advisors LLC acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 32,874 shares of the company’s stock, valued at approximately $2,740,000.

Other hedge funds also recently bought and sold shares of the company. Transamerica Financial Advisors LLC increased its position in shares of Kontoor Brands by 335.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after acquiring an additional 312 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Kontoor Brands in the 2nd quarter valued at approximately $26,000. Torren Management LLC purchased a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $27,000. Private Trust Co. NA purchased a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $31,000. Finally, Hantz Financial Services Inc. boosted its stake in Kontoor Brands by 196.2% in the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock worth $34,000 after purchasing an additional 365 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Down 4.1%

NYSE KTB opened at $78.81 on Friday. Kontoor Brands, Inc. has a 1-year low of $56.19 and a 1-year high of $88.96. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $4.31 billion, a PE ratio of 16.45 and a beta of 0.88. The firm’s fifty day simple moving average is $82.45 and its 200-day simple moving average is $74.40.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $586.95 million. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 annualized dividend and a dividend yield of 2.7%. Kontoor Brands’s payout ratio is presently 44.26%.

Insider Activity at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was 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. This represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott H. 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 transaction of $15,379,210.20. Following the transaction, the chief executive officer directly owned 261,786 shares in the company, valued at approximately $21,832,952.40. The trade was a 41.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 196,063 shares of company stock valued at $16,342,364. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KTB has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. UBS Group raised their target price on Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Barclays lifted their price target on Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.00.

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.