Kontoor Brands (NYSE:KTB) Trading Down 4.1% – Here’s What Happened

Kontoor Brands, Inc. (NYSE:KTB) shares fell 4.1% on Tuesday . The stock traded as low as $80.15 and last traded at $79.83. 172,754 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 805,211 shares. The stock had previously closed at $83.23.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KTB. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Barclays boosted their price objective on Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. upped their price objective on Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. UBS Group increased their target price on Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company lifted their target price on Kontoor Brands from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Price Performance

The company’s fifty day moving average price is $82.68 and its 200 day moving average price is $74.87. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.14 and a beta of 0.88.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The business had revenue of $584.29 million during the quarter, compared to the consensus estimate of $586.95 million. During the same quarter in the prior year, the firm earned $1.33 EPS. The company’s revenue for the quarter 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. Equities research analysts expect that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued 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 dividend yield of 2.7%. Kontoor Brands’s dividend payout ratio is 44.26%.

Insider Transactions at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $83.43, for a total transaction of $639,073.80. Following the sale, the executive vice president directly owned 25,063 shares in the company, valued at approximately $2,091,006.09. This represents a 23.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer H. Broyles sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of the sale, the executive vice president directly owned 40,261 shares in the company, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 196,063 shares of company stock worth $16,342,364. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Kontoor Brands by 29.1% during the first quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after acquiring an additional 23,880 shares during the last quarter. AQR Capital Management LLC boosted its stake in Kontoor Brands by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock valued at $939,000 after purchasing an additional 4,836 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Kontoor Brands by 250.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock valued at $602,000 after purchasing an additional 6,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kontoor Brands by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after purchasing an additional 1,432 shares during the period. Finally, Millennium Management LLC grew its position in Kontoor Brands by 222.5% in the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after purchasing an additional 107,855 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Company 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.