Nicholas Investment Partners LP Takes Position in Kontoor Brands, Inc. $KTB

Nicholas Investment Partners LP acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 261,117 shares of the company’s stock, valued at approximately $21,761,000. Kontoor Brands accounts for approximately 1.2% of Nicholas Investment Partners LP’s portfolio, making the stock its 16th largest holding.

Several other institutional investors have also recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in Kontoor Brands in the 2nd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its position in Kontoor Brands by 335.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after buying an additional 312 shares in the last quarter. Torren Management LLC acquired a new position in shares of Kontoor Brands in the fourth quarter worth $27,000. CENTRAL TRUST Co acquired a new position in shares of Kontoor Brands in the first quarter worth $35,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Kontoor Brands in the second quarter valued at $42,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction dated Friday, June 12th. The stock was 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 owned 40,261 shares in the company, valued at $3,261,946.22. The trade was a 9.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of Kontoor Brands stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.43, for a total value of $639,073.80. Following the completion of the sale, the executive vice president owned 25,063 shares of the company’s stock, valued at $2,091,006.09. This trade represents a 23.41% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 196,063 shares of company stock valued at $16,342,364. Insiders own 1.80% of the company’s stock.

Kontoor Brands Trading Up 1.1%

Shares of Kontoor Brands stock opened at $82.93 on Tuesday. Kontoor Brands, Inc. has a fifty-two week low of $56.19 and a fifty-two week high of $88.96. The firm has a market cap of $4.53 billion, a PE ratio of 17.31 and a beta of 0.88. The business’s fifty day moving average is $82.59 and its two-hundred day moving average is $74.69. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. The business had revenue of $584.29 million for the quarter, compared to analysts’ expectations of $586.95 million. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%.The business’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s dividend payout ratio (DPR) is presently 44.26%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. UBS Group raised their price target on shares of Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.