8,754 Shares in Kontoor Brands, Inc. $KTB Acquired by Summit Global Investments

Summit Global Investments acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,754 shares of the company’s stock, valued at approximately $730,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors LLC increased its stake in shares of Kontoor Brands by 335.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock valued at $25,000 after buying an additional 312 shares during the period. Torren Management LLC purchased a new stake in Kontoor Brands in the fourth quarter worth about $27,000. Private Trust Co. NA purchased a new stake in Kontoor Brands in the fourth quarter worth about $31,000. CENTRAL TRUST Co bought a new position in Kontoor Brands during the 1st quarter worth about $35,000. Finally, Hantz Financial Services Inc. grew its holdings 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 acquiring an additional 365 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the sale, the executive vice president owned 25,063 shares of the company’s stock, valued at $2,091,006.09. This represents a 23.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jennifer H. Broyles sold 4,000 shares of the firm’s stock in a transaction that occurred 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 owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company’s stock.

Kontoor Brands Price Performance

KTB opened at $84.87 on Friday. The business’s 50-day moving average is $82.08 and its two-hundred day moving average is $73.66. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.83 and a quick ratio of 1.10. The firm has a market capitalization of $4.64 billion, a PE ratio of 17.72 and a beta of 0.88.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $584.29 million during 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 firm’s revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Research analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed 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. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands’s payout ratio is 44.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research increased their price objective on shares of Kontoor Brands from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their price objective on shares of Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday. Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company upped their target price on Kontoor Brands from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.