592,317 Shares in Kontoor Brands, Inc. $KTB Purchased by Norges Bank

Norges Bank acquired a new position in Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 592,317 shares of the company’s stock, valued at approximately $36,185,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in Kontoor Brands by 89.5% in the 3rd quarter. New York State Common Retirement Fund now owns 32,739 shares of the company’s stock valued at $2,612,000 after buying an additional 15,465 shares in the last quarter. UBS Group AG lifted its stake in Kontoor Brands by 3.8% in the 4th quarter. UBS Group AG now owns 551,758 shares of the company’s stock valued at $33,707,000 after buying an additional 20,270 shares in the last quarter. Skba Capital Management LLC lifted its stake in Kontoor Brands by 14.5% in the 3rd quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock valued at $22,646,000 after buying an additional 35,980 shares in the last quarter. Fieldview Capital Management LLC lifted its stake in Kontoor Brands by 50.8% in the 3rd quarter. Fieldview Capital Management LLC now owns 57,491 shares of the company’s stock valued at $4,586,000 after buying an additional 19,363 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Kontoor Brands by 100.1% in the 3rd quarter. Intech Investment Management LLC now owns 139,122 shares of the company’s stock valued at $11,098,000 after buying an additional 69,609 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Up 3.4%

NYSE KTB opened at $72.48 on Tuesday. Kontoor Brands, Inc. has a one year low of $53.55 and a one year high of $87.00. The company’s 50 day moving average price is $70.83 and its 200 day moving average price is $67.92. 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 capitalization of $4.01 billion, a price-to-earnings ratio of 14.67 and a beta of 0.89.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The business had revenue of $613.32 million during the quarter, compared to analysts’ expectations of $784.76 million. During the same quarter in the previous year, the business posted $1.20 EPS. The company’s quarterly 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. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 5.2 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.12 annualized dividend and a yield of 2.9%. Kontoor Brands’s dividend payout ratio (DPR) is 42.91%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Kontoor Brands from $118.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 15th. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of Kontoor Brands in a report on Friday, May 1st. Finally, Barclays upped their target price on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.20.

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.