SG Americas Securities LLC Decreases Stock Position in Kontoor Brands, Inc. $KTB

SG Americas Securities LLC lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 67.5% during the first quarter, HoldingsChannel reports. The firm owned 4,926 shares of the company’s stock after selling 10,218 shares during the period. SG Americas Securities LLC’s holdings in Kontoor Brands were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KTB. JPMorgan Chase & Co. lifted its position in shares of Kontoor Brands by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after purchasing an additional 413,005 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kontoor Brands by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company’s stock valued at $86,741,000 after purchasing an additional 13,725 shares in the last quarter. Morgan Stanley increased its stake in Kontoor Brands by 8.8% during the 4th quarter. Morgan Stanley now owns 1,283,592 shares of the company’s stock worth $78,415,000 after buying an additional 104,296 shares during the period. Capital World Investors increased its stake in Kontoor Brands by 8.5% during the 3rd quarter. Capital World Investors now owns 1,276,410 shares of the company’s stock worth $101,819,000 after buying an additional 100,000 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Kontoor Brands by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,261,859 shares of the company’s stock worth $77,088,000 after buying an additional 15,213 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the completion of the transaction, the executive vice president directly owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. This represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KTB. JPMorgan Chase & Co. started coverage on shares of Kontoor Brands in a research report on Monday, June 8th. They issued an “overweight” rating and a $90.00 price objective for the company. Zacks Research lowered Kontoor Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 10th. Barclays boosted their price target on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. BTIG Research reissued a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. Finally, Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.20.

Kontoor Brands Trading Up 0.2%

Kontoor Brands stock opened at $84.55 on Friday. The firm’s 50-day moving average is $74.87 and its 200-day moving average is $69.57. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. Kontoor Brands, Inc. has a 1 year low of $53.55 and a 1 year high of $88.85. The company has a market cap of $4.67 billion, a P/E ratio of 17.12 and a beta of 0.87.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.06 earnings per share 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 the consensus estimate of $784.76 million. During the same period in the prior year, the company earned $1.20 EPS. Kontoor Brands’s quarterly revenue 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, equities analysts expect that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

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

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.