Geode Capital Management LLC Acquires 13,725 Shares of Kontoor Brands, Inc. $KTB

Geode Capital Management LLC raised its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,419,700 shares of the company’s stock after buying an additional 13,725 shares during the period. Geode Capital Management LLC owned about 2.55% of Kontoor Brands worth $86,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KTB. JPMorgan Chase & Co. lifted its position in shares of Kontoor Brands by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 2,606,199 shares of the company’s stock valued at $207,897,000 after purchasing an additional 53,107 shares in the last quarter. Capital World Investors lifted its position in shares of Kontoor Brands by 8.5% during the third quarter. Capital World Investors now owns 1,276,410 shares of the company’s stock valued at $101,819,000 after purchasing an additional 100,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 purchasing an additional 8,834 shares in 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 purchasing an additional 99,593 shares in the last quarter. Finally, Man Group plc lifted its position in shares of Kontoor Brands by 23.7% during the second quarter. Man Group plc now owns 765,512 shares of the company’s stock valued at $50,501,000 after purchasing an additional 146,858 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 0.0%

NYSE:KTB opened at $70.08 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $3.87 billion, a PE ratio of 14.19 and a beta of 0.89. The firm’s 50 day moving average is $70.73 and its 200 day moving average is $67.90. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $87.00.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Sell-side 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 Thursday, June 18th. Investors of record on Monday, June 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s payout ratio is 42.91%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KTB. UBS Group raised their price target on shares of Kontoor Brands from $118.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Stifel Nicolaus raised their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Barclays raised their price target on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, BTIG Research reissued a “buy” rating and set a $100.00 price target on shares of Kontoor Brands in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.

About Kontoor Brands

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.