Kontoor Brands (NYSE:KTB) Stock Price Down 3.2% – Here’s What Happened

Kontoor Brands, Inc. (NYSE:KTB)’s stock price dropped 3.2% during trading on Thursday . The company traded as low as $66.28 and last traded at $66.1560. Approximately 119,676 shares were traded during trading, a decline of 85% from the average session volume of 797,853 shares. The stock had previously closed at $68.37.

Wall Street Analyst Weigh In

KTB has been the topic of a number of research analyst reports. Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Wells Fargo & Company increased their target price on Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. UBS Group boosted their price objective on shares of Kontoor Brands from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings cut Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Down 3.6%

The company’s fifty day moving average is $79.49 and its 200-day moving average is $75.30. The company has a market capitalization of $3.60 billion, a PE ratio of 13.78 and a beta of 0.87. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share 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 the consensus estimate of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, analysts predict that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.2%. Kontoor Brands’s payout ratio is 44.26%.

Insider Buying and Selling at Kontoor Brands

In other news, CEO Scott H. 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 value of $15,379,210.20. Following the transaction, the chief executive officer directly owned 261,786 shares in the company, valued at $21,832,952.40. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the company’s 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 completion of the transaction, the executive vice president directly 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Kontoor Brands by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $166,000 after acquiring an additional 134 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Kontoor Brands by 9.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock valued at $110,000 after acquiring an additional 162 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Kontoor Brands by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,701 shares of the company’s stock worth $715,000 after purchasing an additional 216 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Kontoor Brands by 6.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,317 shares of the company’s stock worth $303,000 after purchasing an additional 245 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Kontoor Brands by 2.8% during the fourth quarter. Corient Private Wealth LLC now owns 10,402 shares of the company’s stock worth $636,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Company Profile

Kontoor Brands, Inc (NYSE: KTB) is a global lifestyle apparel company that designs, manufactures, sources and markets branded clothing and accessories. The company is best known for its denim and casualwear businesses, serving consumers through wholesale distributors, department and specialty stores, company-operated retail locations and e-commerce channels.

Kontoor’s principal brands include Wrangler, a heritage brand focused on denim, westernwear, workwear and casual apparel, and Lee, which offers denim and lifestyle clothing for men, women and children.