Intech Investment Management LLC Sells 14,866 Shares of Kontoor Brands, Inc. $KTB

Intech Investment Management LLC decreased its position in Kontoor Brands, Inc. (NYSE:KTB) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,256 shares of the company’s stock after selling 14,866 shares during the quarter. Intech Investment Management LLC’s holdings in Kontoor Brands were worth $7,591,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Clearstead Advisors LLC grew its holdings in shares of Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock worth $27,000 after purchasing an additional 330 shares during the last quarter. Torren Management LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth about $27,000. Assetmark Inc. lifted its position in Kontoor Brands by 532.3% during the 3rd quarter. Assetmark Inc. now owns 392 shares of the company’s stock worth $31,000 after buying an additional 330 shares in the last quarter. Private Trust Co. NA acquired a new position in Kontoor Brands during the 4th quarter worth about $31,000. Finally, Hantz Financial Services Inc. lifted its position in Kontoor Brands by 196.2% during the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock worth $34,000 after buying an additional 365 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Down 2.4%

Shares of NYSE KTB opened at $72.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. Kontoor Brands, Inc. has a 12-month low of $53.55 and a 12-month high of $87.00. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 14.57 and a beta of 0.91. The firm’s 50-day simple moving average is $70.69 and its 200 day simple moving average is $68.00.

Kontoor Brands (NYSE:KTB) last released its earnings results 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 business had revenue of $613.32 million for the quarter, compared to analyst estimates of $784.76 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, research analysts expect that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. Kontoor Brands’s dividend payout ratio is presently 42.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. 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 target on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Jefferies Financial Group assumed coverage on shares of Kontoor Brands in a research report on Wednesday, February 4th. They set a “hold” rating and a $65.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a research report 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 one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and a consensus target price of $91.33.

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.