Jennison Associates LLC Has $86.13 Million Holdings in Kontoor Brands, Inc. $KTB

Jennison Associates LLC increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,225,371 shares of the company’s stock after acquiring an additional 10,540 shares during the period. Jennison Associates LLC’s holdings in Kontoor Brands were worth $86,131,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings 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 valued at $184,443,000 after acquiring an additional 413,005 shares during the period. Geode Capital Management LLC lifted 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 during the last quarter. Morgan Stanley boosted its position in Kontoor Brands by 8.8% in the fourth quarter. Morgan Stanley now owns 1,283,592 shares of the company’s stock valued at $78,415,000 after buying an additional 104,296 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Kontoor Brands by 1.2% during the fourth 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 during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in Kontoor Brands by 23.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,136,443 shares of the company’s stock worth $69,426,000 after buying an additional 215,621 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the 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 transaction, the executive vice president 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Kontoor Brands Stock Up 0.4%

Shares of NYSE:KTB opened at $85.88 on Monday. The company has a 50 day moving average of $76.25 and a 200-day moving average of $70.53. Kontoor Brands, Inc. has a one year low of $53.55 and a one year high of $88.96. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 17.38 and a beta of 0.87. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data 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). The business had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. Kontoor Brands’s revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued 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 dividend payout ratio is currently 42.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KTB. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Kontoor Brands in a report on Friday, May 1st. Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings cut Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. JPMorgan Chase & Co. began coverage on Kontoor Brands in a report on Monday, June 8th. They issued an “overweight” rating and a $90.00 price target for the company. Finally, Barclays increased 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. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

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.