Insider Selling: Kontoor Brands (NYSE:KTB) CEO Sells $15,379,210.20 in Stock

Kontoor Brands, Inc. (NYSE:KTB) CEO Scott Baxter sold 184,403 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.40, for a total value of $15,379,210.20. Following the sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kontoor Brands Stock Down 0.0%

Kontoor Brands stock opened at $82.28 on Thursday. The stock has a 50 day moving average of $82.49 and a two-hundred day moving average of $74.27. Kontoor Brands, Inc. has a twelve month low of $56.19 and a twelve month high of $88.96. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 17.18 and a beta of 0.88. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82.

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

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s payout ratio is currently 44.26%.

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently made changes to their positions in KTB. Kingsview Wealth Management LLC acquired a new stake in shares of Kontoor Brands in the second quarter valued at about $897,000. Beacon Pointe Advisors LLC acquired a new position in Kontoor Brands during the second quarter worth about $524,000. Empowered Funds LLC purchased a new position in Kontoor Brands in the second quarter valued at about $391,000. Public Employees Retirement System of Ohio purchased a new position in Kontoor Brands in the second quarter valued at about $80,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group boosted their target price on Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, BTIG Research increased their target price on Kontoor Brands from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.