Capital World Investors Raises Holdings in Kontoor Brands, Inc. $KTB

Capital World Investors increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 8.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,276,410 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Capital World Investors’ holdings in Kontoor Brands were worth $101,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Kontoor Brands by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 2,606,199 shares of the company’s stock worth $207,897,000 after buying an additional 53,107 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kontoor Brands by 2.1% during the second quarter. Geode Capital Management LLC now owns 1,623,778 shares of the company’s stock valued at $107,129,000 after acquiring an additional 32,630 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kontoor Brands by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,246,646 shares of the company’s stock valued at $99,440,000 after acquiring an additional 8,834 shares during the last quarter. Invesco Ltd. increased its position in Kontoor Brands by 54.2% during the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock worth $81,924,000 after purchasing an additional 436,246 shares in the last quarter. Finally, Man Group plc increased its position in Kontoor Brands by 23.7% during the 2nd quarter. Man Group plc now owns 765,512 shares of the company’s stock worth $50,501,000 after purchasing an additional 146,858 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. 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. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. BNP Paribas Exane set a $50.00 price objective on shares of Kontoor Brands in a research note on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. Finally, Barclays lifted their target price on shares of Kontoor Brands from $74.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Kontoor Brands Stock Down 2.4%

Shares of NYSE KTB opened at $66.44 on Thursday. The stock has a market capitalization of $3.67 billion, a PE ratio of 16.41 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 2.01. The firm has a fifty day moving average of $64.53 and a 200-day moving average of $71.77. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $87.00.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.08. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $975.78 million. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 45.6% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. On average, analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.2%. Kontoor Brands’s payout ratio is presently 52.35%.

Kontoor Brands 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.