26,811 Shares in Kontoor Brands, Inc. $KTB Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,811 shares of the company’s stock, valued at approximately $2,234,000.

A number of other hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Kontoor Brands by 29.1% in the 1st 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 shares of Kontoor Brands by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after purchasing an additional 4,836 shares during the period. Integrated Wealth Concepts LLC grew its holdings 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 last quarter. Finally, Millennium Management LLC raised 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 period. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KTB. JPMorgan Chase & Co. boosted their target price on Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings raised Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. BTIG Research boosted their price objective on Kontoor Brands from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, UBS Group increased their target price on Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $72.55 on Thursday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.15 and a beta of 0.87. Kontoor Brands, Inc. has a 52-week low of $56.19 and a 52-week high of $88.96. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82. The company’s 50 day moving average is $82.45 and its 200 day moving average is $75.16.

Kontoor Brands (NYSE:KTB) last announced its earnings results 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 business had revenue of $584.29 million for the quarter, compared to analysts’ expectations of $586.95 million. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%.The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 EPS. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. On average, sell-side analysts anticipate that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands’s payout ratio is presently 44.26%.

Insider Activity

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 40,261 shares in the company, valued at $3,261,946.22. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of Kontoor Brands stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $83.43, for a total value of $639,073.80. Following the sale, the executive vice president directly owned 25,063 shares of the company’s stock, valued at $2,091,006.09. This trade represents a 23.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 196,063 shares of company stock valued at $16,342,364. Company insiders own 1.80% of the company’s stock.

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.