Kingsview Wealth Management LLC Buys New Shares in Kontoor Brands, Inc. $KTB

Kingsview Wealth Management LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,763 shares of the company’s stock, valued at approximately $897,000.

Several other large investors have also recently bought and sold shares of KTB. Royal Bank of Canada increased its position 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 worth $6,793,000 after purchasing an additional 23,880 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Kontoor Brands by 49.3% in the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock valued at $939,000 after buying an additional 4,836 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock valued at $602,000 after buying an additional 6,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kontoor Brands by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after buying an additional 1,432 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Kontoor Brands by 222.5% during the first 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 last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $77.19 on Monday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.11 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, Inc. has a 12 month low of $56.19 and a 12 month high of $88.96. The stock’s 50 day moving average is $82.63 and its 200-day moving average is $75.02.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $586.95 million. During the same period last year, the firm posted $1.33 EPS. The firm’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. Equities research analysts expect that Kontoor Brands, Inc. will post 5.27 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s payout ratio is presently 44.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KTB. Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. UBS Group upped their target price on shares of Kontoor Brands from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company raised their target price on shares of Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price target on Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Activity

In other Kontoor Brands news, CEO Scott H. Baxter sold 184,403 shares of Kontoor Brands stock in a transaction dated 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 completion of the sale, the chief executive officer owned 261,786 shares in the company, valued at $21,832,952.40. The trade was a 41.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction dated 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 directly owned 40,261 shares of the company’s stock, valued at $3,261,946.22. This represents a 9.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 196,063 shares of company stock valued at $16,342,364. 1.80% of the stock is owned by company insiders.

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.