8,439 Kontoor Brands, Inc. $KTB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 42.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,230 shares of the company’s stock after selling 8,439 shares during the period. State of Alaska Department of Revenue’s holdings in Kontoor Brands were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KTB. BlackRock Inc. purchased a new stake in Kontoor Brands in the 2nd quarter valued at $674,664,000. Bank of New York Mellon Corp acquired a new stake in Kontoor Brands during the 2nd quarter worth $45,003,000. Bank of America Corp DE purchased a new position in Kontoor Brands during the 2nd quarter worth $38,382,000. Nicholas Investment Partners LP purchased a new position in Kontoor Brands during the 2nd quarter worth $21,761,000. Finally, Pacer Advisors Inc. purchased a new position in Kontoor Brands during the 1st quarter worth $17,718,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $77.86 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.83 and a quick ratio of 0.99. The stock has a fifty day moving average price of $71.28 and a 200 day moving average price of $74.93. Kontoor Brands, Inc. has a 1-year low of $56.19 and a 1-year high of $88.96. The company has a market cap of $4.26 billion, a PE ratio of 16.26 and a beta of 0.87.

Kontoor Brands (NYSE:KTB) last posted 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. The firm had revenue of $584.29 million for the quarter, compared to analyst estimates of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. Kontoor Brands’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Sell-side analysts forecast that Kontoor Brands, Inc. will post 5.27 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Tuesday, December 8th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. Kontoor Brands’s payout ratio is presently 44.26%.

Insider Activity

In other news, EVP Thomas Doerr, Jr. sold 7,660 shares of Kontoor Brands stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.43, for a total value of $639,073.80. Following the sale, the executive vice president owned 25,063 shares of the company’s stock, valued at $2,091,006.09. The trade was a 23.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Baxter sold 184,403 shares of the business’s stock in a transaction dated 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on KTB. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Barclays raised their price target on Kontoor Brands from $96.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. boosted their price target on Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group upgraded Kontoor Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $82.00 to $89.00 in a research report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $96.56.

Kontoor Brands Profile

Kontoor Brands, Inc (NYSE: KTB) is a global lifestyle apparel company focused on denim and casualwear. Its portfolio includes the Wrangler and Lee brands, as well as Rock & Republic, offering jeans, shirts, jackets, tops, bottoms, accessories and related products for men, women and children.

The company sells its products through wholesale customers, including department stores, specialty retailers and mass merchants, as well as through company-operated stores and e-commerce channels. Kontoor serves consumers in North America and international markets, with products distributed across multiple regions worldwide.

Kontoor Brands became an independent publicly traded company in 2019 following its separation from VF Corporation.