22,700 Shares in Kontoor Brands, Inc. $KTB Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,700 shares of the company’s stock, valued at approximately $1,596,000.

Several other hedge funds have also bought and sold shares of the business. Royal Bank of Canada grew its holdings in Kontoor Brands by 29.1% in the first quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after purchasing an additional 23,880 shares during the period. AQR Capital Management LLC boosted its position in shares of Kontoor Brands by 49.3% in 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 in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Kontoor Brands by 250.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after purchasing an additional 6,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kontoor Brands by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock worth $2,102,000 after buying an additional 1,432 shares during the last quarter. Finally, Millennium Management LLC increased its position in Kontoor Brands by 222.5% during the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock valued at $10,026,000 after buying an additional 107,855 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

KTB opened at $83.90 on Thursday. The company’s 50-day simple moving average is $73.48 and its two-hundred day simple moving average is $68.70. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. The stock has a market capitalization of $4.64 billion, a P/E ratio of 16.98 and a beta of 0.87. Kontoor Brands, Inc. has a 52-week low of $53.55 and a 52-week high of $87.00.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business’s revenue 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. As a group, analysts predict that Kontoor Brands, Inc. will post 5.2 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands’s payout ratio is 42.91%.

Insider Buying and Selling

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction 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. The trade was a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. UBS Group lifted their price target on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays upped their price objective on Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group increased 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.