Summit Global Investments Has $638,000 Holdings in Kontoor Brands, Inc. $KTB

Summit Global Investments trimmed its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 40.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,077 shares of the company’s stock after selling 6,057 shares during the period. Summit Global Investments’ holdings in Kontoor Brands were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KTB. JPMorgan Chase & Co. lifted its holdings in shares of Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock valued at $184,443,000 after purchasing an additional 413,005 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $86,741,000 after purchasing an additional 13,725 shares in the last quarter. Morgan Stanley raised its holdings 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. Dimensional Fund Advisors LP raised its holdings in Kontoor Brands by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company’s stock worth $89,132,000 after buying an additional 6,477 shares during the period. Finally, Jennison Associates LLC lifted its stake in Kontoor Brands by 0.9% in the first quarter. Jennison Associates LLC now owns 1,225,371 shares of the company’s stock valued at $86,131,000 after buying an additional 10,540 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the sale, the executive vice president owned 40,261 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KTB. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Zacks Research raised shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. started coverage on shares of Kontoor Brands in a research note on Monday, June 8th. They issued an “overweight” rating and a $90.00 target price for the company. 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, Wall Street Zen downgraded 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, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $91.20.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $86.72 on Thursday. The company’s fifty day simple moving average is $77.33 and its 200-day simple moving average is $71.04. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The firm has a market cap of $4.79 billion, a PE ratio of 17.55 and a beta of 0.87. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $88.96.

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 2.4%. Kontoor Brands’s dividend payout ratio (DPR) 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.