Cibc World Market Inc. Buys New Position in Kontoor Brands, Inc. $KTB

Cibc World Market Inc. bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, HoldingsChannel.com reports. The fund bought 31,952 shares of the company’s stock, valued at approximately $1,952,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS Group AG boosted its position in Kontoor Brands by 3.8% in the fourth quarter. UBS Group AG now owns 551,758 shares of the company’s stock worth $33,707,000 after purchasing an additional 20,270 shares during the last quarter. Skba Capital Management LLC boosted its position in Kontoor Brands by 14.5% in the third quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock worth $22,646,000 after purchasing an additional 35,980 shares during the last quarter. Fieldview Capital Management LLC boosted its position in Kontoor Brands by 50.8% in the third quarter. Fieldview Capital Management LLC now owns 57,491 shares of the company’s stock worth $4,586,000 after purchasing an additional 19,363 shares during the last quarter. Intech Investment Management LLC boosted its position in Kontoor Brands by 100.1% in 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Kontoor Brands by 18.1% in the third quarter. Victory Capital Management Inc. now owns 227,351 shares of the company’s stock worth $18,136,000 after purchasing an additional 34,788 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $77.09 on Wednesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. Kontoor Brands, Inc. has a 1 year low of $53.55 and a 1 year high of $87.00. The firm has a market cap of $4.26 billion, a PE ratio of 15.60 and a beta of 0.89. The stock’s fifty day moving average price is $71.04 and its two-hundred day moving average price is $67.97.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company had revenue of $613.32 million for the quarter, compared to the consensus estimate of $784.76 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was up 45.0% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, equities research analysts forecast that Kontoor Brands, Inc. will post 5.2 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, June 8th. Kontoor Brands’s payout ratio is presently 42.91%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of Kontoor Brands in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. The Goldman Sachs Group boosted their target price on Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Zacks Research lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. 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 stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

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.