Kontoor Brands, Inc. $KTB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,134,232 shares of the company’s stock after selling 32,911 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Kontoor Brands worth $374,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KTB. New York State Common Retirement Fund increased its holdings in Kontoor Brands by 89.5% in the 3rd quarter. New York State Common Retirement Fund now owns 32,739 shares of the company’s stock worth $2,612,000 after acquiring an additional 15,465 shares in the last quarter. Skba Capital Management LLC lifted its holdings in Kontoor Brands by 14.5% during the third quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock valued at $22,646,000 after purchasing an additional 35,980 shares in the last quarter. Fieldview Capital Management LLC grew its position in shares of Kontoor Brands by 50.8% in the third quarter. Fieldview Capital Management LLC now owns 57,491 shares of the company’s stock valued at $4,586,000 after purchasing an additional 19,363 shares during the period. Capital World Investors grew its position in shares of Kontoor Brands by 8.5% in 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 during the period. Finally, Intech Investment Management LLC increased its stake in shares of Kontoor Brands by 100.1% during the third quarter. Intech Investment Management LLC now owns 139,122 shares of the company’s stock worth $11,098,000 after purchasing an additional 69,609 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Up 4.5%

KTB stock opened at $74.91 on Thursday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 18.50 and a beta of 0.91. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 2.01. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $87.00. The firm has a 50-day moving average of $71.05 and a two-hundred day moving average of $69.34.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.08. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.The company’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. As a group, analysts forecast that Kontoor Brands, Inc. will post 6.46 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.8%. Kontoor Brands’s dividend payout ratio (DPR) is 52.35%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a research note on Friday, May 1st. The Goldman Sachs Group increased their target price on 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 lifted their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Kontoor Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Finally, Barclays increased their price objective on Kontoor Brands from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.