Corient Private Wealth LP Makes New $3.69 Million Investment in Kontoor Brands, Inc. $KTB

Corient Private Wealth LP bought a new position in Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 44,236 shares of the company’s stock, valued at approximately $3,686,000.

A number of other institutional investors have also made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of Kontoor Brands during the 2nd quarter valued at approximately $38,382,000. Freestone Grove Partners LP acquired a new position in Kontoor Brands in the second quarter worth $375,000. Jupiter Topco LLC acquired a new position in Kontoor Brands in the second quarter worth $7,311,000. Hsbc Holdings PLC bought a new stake in Kontoor Brands during the second quarter valued at $210,000. Finally, Ancora Advisors LLC bought a new stake in Kontoor Brands during the second quarter valued at $8,075,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Performance

KTB stock opened at $74.30 on Wednesday. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.51 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. The stock’s fifty day moving average is $82.56 and its two-hundred day moving average is $75.12.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The business had revenue of $584.29 million during the quarter, compared to analyst estimates of $586.95 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. On average, research analysts predict that Kontoor Brands, Inc. will post 5.27 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s payout ratio is presently 44.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Kontoor Brands from $96.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. UBS Group lifted their target price on Kontoor Brands from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings raised Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Finally, Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insiders Place Their Bets

In other news, EVP Thomas L. Doerr, Jr. sold 7,660 shares of Kontoor Brands stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $83.43, for a total transaction of $639,073.80. Following the sale, the executive vice president owned 25,063 shares of the company’s stock, valued at approximately $2,091,006.09. The trade was a 23.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott H. Baxter sold 184,403 shares of the business’s stock in a transaction that occurred on 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 owned 261,786 shares of the company’s stock, valued at approximately $21,832,952.40. This represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 196,063 shares of company stock worth $16,342,364. Insiders own 1.80% of the company’s stock.

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.