Arrowstreet Capital Limited Partnership Acquires New Stake in Kontoor Brands, Inc. $KTB

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the first quarter, Holdings Channel reports. The firm acquired 168,784 shares of the company’s stock, valued at approximately $11,864,000.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG grew its stake 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. AMG National Trust Bank lifted its position in shares of Kontoor Brands by 19.9% during the fourth quarter. AMG National Trust Bank now owns 162,657 shares of the company’s stock valued at $9,937,000 after buying an additional 27,044 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Kontoor Brands by 8.9% during the fourth quarter. Jennison Associates LLC now owns 1,214,831 shares of the company’s stock valued at $74,214,000 after buying an additional 99,593 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Kontoor Brands in the 1st quarter valued at about $1,918,000. Finally, Fifth Third Bancorp grew its position in shares of Kontoor Brands by 5,635.9% in the 1st quarter. Fifth Third Bancorp now owns 82,826 shares of the company’s stock worth $5,822,000 after buying an additional 81,382 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the completion of the transaction, the executive vice president directly owned 40,261 shares of the company’s stock, valued at $3,261,946.22. The trade was a 9.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays boosted their target price on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. assumed coverage on Kontoor Brands in a research report on Monday, June 8th. They set an “overweight” rating and a $90.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a research note on Friday, May 1st. Finally, Weiss Ratings raised Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 20th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.20.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $83.69 on Friday. The business has a fifty day moving average of $80.05 and a 200 day moving average of $72.13. Kontoor Brands, Inc. has a 1 year low of $53.55 and a 1 year high of $88.96. 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 market capitalization of $4.63 billion, a price-to-earnings ratio of 16.94 and a beta of 0.87.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The business had revenue of $613.32 million for the quarter, compared to analysts’ expectations of $784.76 million. During the same period in the prior year, the business posted $1.20 earnings per share. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 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.