Hillsdale Investment Management Inc. Purchases 12,800 Shares of Kontoor Brands, Inc. $KTB

Hillsdale Investment Management Inc. lifted its position in Kontoor Brands, Inc. (NYSE:KTB) by 13.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,700 shares of the company’s stock after buying an additional 12,800 shares during the period. Hillsdale Investment Management Inc.’s holdings in Kontoor Brands were worth $7,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of Kontoor Brands by 29.1% during the 1st quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock valued at $6,793,000 after purchasing an additional 23,880 shares in the last quarter. AQR Capital Management LLC increased its stake in Kontoor Brands by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after purchasing an additional 4,836 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Kontoor Brands by 250.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after purchasing an additional 6,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Kontoor Brands by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock worth $2,102,000 after buying an additional 1,432 shares during the period. Finally, Millennium Management LLC raised its holdings in Kontoor Brands by 222.5% during the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after buying an additional 107,855 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Buying and Selling at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the sale, the executive vice president owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. The trade was a 9.04% 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 the SEC website. 1.80% of the stock is owned by insiders.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $84.92 on Tuesday. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $88.85. The company’s fifty day simple moving average is $75.37 and its 200-day simple moving average is $69.89. The firm has a market cap of $4.69 billion, a PE ratio of 17.19 and a beta of 0.87. 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 (NYSE:KTB) last released its earnings results 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 during the quarter, compared to the consensus estimate of $784.76 million. During the same period last year, the business posted $1.20 EPS. The firm’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. Equities research analysts expect that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KTB. Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Barclays raised their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Kontoor Brands in a report on Friday, May 1st. Finally, Weiss Ratings downgraded Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $91.20.

Kontoor Brands 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.