Scott Baxter Sells 184,403 Shares of Kontoor Brands (NYSE:KTB) Stock

Kontoor Brands, Inc. (NYSE:KTB) CEO Scott Baxter sold 184,403 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.40, for a total transaction of $15,379,210.20. Following the completion of the sale, the chief executive officer directly owned 261,786 shares of the company’s stock, valued at $21,832,952.40. This represents a 41.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kontoor Brands Trading Up 0.9%

Shares of NYSE:KTB opened at $82.51 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.83 and a quick ratio of 0.99. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96. The company has a market capitalization of $4.51 billion, a P/E ratio of 17.23 and a beta of 0.88. The business’s 50 day simple moving average is $82.37 and its 200 day simple moving average is $74.10.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data 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. The business had revenue of $584.29 million during the quarter, compared to analysts’ expectations of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. Kontoor Brands’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. On average, research analysts anticipate that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 annualized dividend and a yield of 2.6%. Kontoor Brands’s dividend payout ratio (DPR) is 44.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KTB. Weiss Ratings cut Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Barclays increased their price objective on Kontoor Brands from $96.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their price target on Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. Finally, UBS Group upped their price target on Kontoor Brands from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds have recently modified their holdings of KTB. BlackRock Inc. purchased a new stake in Kontoor Brands in the second quarter worth $674,664,000. JPMorgan Chase & Co. raised 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 purchasing an additional 413,005 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kontoor Brands by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company’s stock worth $86,741,000 after buying an additional 13,725 shares during the last quarter. Morgan Stanley lifted its holdings in Kontoor Brands by 8.8% during the fourth quarter. Morgan Stanley now owns 1,283,592 shares of the company’s stock valued at $78,415,000 after purchasing an additional 104,296 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Kontoor Brands by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company’s stock worth $89,132,000 after purchasing an additional 6,477 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.