Kingsview Wealth Management LLC Invests $897,000 in Kontoor Brands, Inc. $KTB

Kingsview Wealth Management LLC purchased a new position in Kontoor Brands, Inc. (NYSE:KTB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,763 shares of the company’s stock, valued at approximately $897,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. BlackRock Inc. bought a new position in Kontoor Brands in the 2nd quarter valued at about $674,664,000. JPMorgan Chase & Co. raised its position in Kontoor Brands by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock valued at $184,443,000 after purchasing an additional 413,005 shares in the last quarter. Geode Capital Management LLC raised its position in Kontoor Brands by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company’s stock valued at $86,741,000 after purchasing an additional 13,725 shares in the last quarter. Morgan Stanley lifted its stake in Kontoor Brands by 8.8% during the fourth quarter. Morgan Stanley now owns 1,283,592 shares of the company’s stock worth $78,415,000 after purchasing an additional 104,296 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Kontoor Brands by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company’s stock worth $89,132,000 after purchasing an additional 6,477 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KTB shares. Wells Fargo & Company lifted their price target on Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Barclays raised their price objective on Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. 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 research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $77.19 on Monday. The business’s 50-day moving average price is $82.63 and its 200-day moving average price is $75.02. Kontoor Brands, Inc. has a 12 month low of $56.19 and a 12 month high of $88.96. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.11 and a beta of 0.88. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $584.29 million during the quarter, compared to the consensus estimate of $586.95 million. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%.The firm’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Equities research analysts forecast that Kontoor Brands, Inc. will post 5.27 EPS 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 given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands’s dividend payout ratio is 44.26%.

Insider Buying and Selling at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the transaction, the executive vice president owned 25,063 shares of the company’s stock, valued at approximately $2,091,006.09. This trade represents a 23.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Baxter sold 184,403 shares of Kontoor Brands stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $83.40, for a total transaction of $15,379,210.20. Following the transaction, the chief executive officer owned 261,786 shares in the company, valued at approximately $21,832,952.40. This trade represents a 41.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 196,063 shares of company stock worth $16,342,364. 1.80% of the stock is currently owned by company insiders.

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.