Key Points
- Kontoor Brands EVP Jennifer Broyles sold 4,000 shares on June 12 at an average price of $81.02, reducing her ownership by 9.04% to 40,261 shares.
- The company reported mixed quarterly results, with earnings of $1.06 per share missing estimates and revenue of $613.32 million coming in below expectations, even though revenue rose 45% year over year.
- Kontoor Brands also declared a quarterly dividend of $0.53 per share, payable June 18, implying an annualized yield of 2.7%.
Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) EVP Jennifer Broyles sold 4,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of the transaction, the executive vice president owned 40,261 shares of the company's stock, valued at $3,261,946.22. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Kontoor Brands Trading Up 0.1%
Shares of KTB opened at $79.13 on Tuesday. The stock has a fifty day moving average of $71.81 and a two-hundred day moving average of $68.19. 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 company has a market capitalization of $4.37 billion, a PE ratio of 16.02 and a beta of 0.89. Kontoor Brands, Inc. has a fifty-two week low of $53.55 and a fifty-two week high of $87.00.
Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.11). The business had revenue of $613.32 million during the quarter, compared to analyst estimates of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company's revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, analysts forecast that Kontoor Brands, Inc. will post 5.2 EPS for the current year.
Kontoor Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be issued a $0.53 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.12 annualized dividend and a yield of 2.7%. Kontoor Brands's payout ratio is 42.91%.
Institutional Trading of Kontoor Brands
A number of institutional investors and hedge funds have recently made changes to their positions in KTB. Transamerica Financial Advisors LLC increased its holdings in shares of Kontoor Brands by 335.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company's stock worth $25,000 after buying an additional 312 shares during the last quarter. Clearstead Advisors LLC boosted its position in Kontoor Brands by 2,538.5% during the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company's stock worth $27,000 after purchasing an additional 330 shares during the period. Torren Management LLC purchased a new stake in Kontoor Brands during the 4th quarter worth $27,000. Assetmark Inc. boosted its position in Kontoor Brands by 532.3% during the 3rd quarter. Assetmark Inc. now owns 392 shares of the company's stock worth $31,000 after purchasing an additional 330 shares during the period. Finally, Private Trust Co. NA purchased a new stake in Kontoor Brands during the 4th quarter worth $31,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
KTB has been the subject of a number of research analyst reports. BTIG Research restated a "buy" rating and set a $100.00 price objective on shares of Kontoor Brands in a report on Friday, May 1st. Zacks Research downgraded Kontoor Brands from a "hold" rating to a "strong sell" rating in a report on Wednesday, June 10th. UBS Group upped their price objective on Kontoor Brands from $118.00 to $131.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Barclays upped their price objective on Kontoor Brands from $93.00 to $96.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Finally, Wells Fargo & Company upped their price objective on Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $91.20.
Read Our Latest Report on KTB
About Kontoor Brands
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
