Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) CEO Scott Baxter sold 184,403 shares of Kontoor Brands stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $83.40, for a total value of $15,379,210.20. Following the sale, the chief executive officer directly owned 261,786 shares in the company, valued at $21,832,952.40. The trade was a 41.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kontoor Brands Trading Down 3.9%
Shares of KTB stock opened at $81.57 on Tuesday. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96. The firm has a market capitalization of $4.46 billion, a PE ratio of 17.03 and a beta of 0.88. The stock has a fifty day moving average of $82.26 and a two-hundred day moving average of $73.93. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83.
Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 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 company had revenue of $584.29 million for the quarter, compared to analyst estimates of $586.95 million. During the same period last year, the company earned $1.33 earnings per share. The company's quarterly revenue was down 11.2% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 5.27 EPS for the current year.
Kontoor Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 annualized dividend and a yield of 2.6%. Kontoor Brands's dividend payout ratio (DPR) is presently 44.26%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. UBS Group boosted their target price on Kontoor Brands from $131.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Kontoor Brands from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Finally, Barclays upped their target price on Kontoor Brands from $96.00 to $99.00 and gave the stock an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $95.00.
Read Our Latest Analysis on Kontoor Brands
Institutional Trading of Kontoor Brands
Hedge funds have recently modified their holdings of the business. UBS Group AG grew its stake in Kontoor Brands by 3.8% during the 4th quarter. UBS Group AG now owns 551,758 shares of the company's stock valued at $33,707,000 after acquiring an additional 20,270 shares in the last quarter. AMG National Trust Bank increased its holdings in shares of Kontoor Brands by 19.9% in the 4th quarter. AMG National Trust Bank now owns 162,657 shares of the company's stock valued at $9,937,000 after purchasing an additional 27,044 shares during the period. Jennison Associates LLC lifted its position in shares of Kontoor Brands by 8.9% in the fourth quarter. Jennison Associates LLC now owns 1,214,831 shares of the company's stock worth $74,214,000 after purchasing an additional 99,593 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Kontoor Brands in the first quarter worth approximately $1,918,000. Finally, Fifth Third Bancorp lifted its position in shares of Kontoor Brands by 5,635.9% in the first quarter. Fifth Third Bancorp now owns 82,826 shares of the company's stock worth $5,822,000 after purchasing an additional 81,382 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.
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.
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