Kontoor Brands, Inc. $KTB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 42.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,230 shares of the company’s stock after selling 8,439 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kontoor Brands were worth $707,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Kontoor Brands in the second quarter valued at $674,664,000. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 6,477 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Kontoor Brands by 0.9% during the 1st quarter. Jennison Associates LLC now owns 1,225,371 shares of the company’s stock worth $86,131,000 after purchasing an additional 10,540 shares during the period. Janus Henderson Group PLC grew its stake in shares of Kontoor Brands by 34.1% during the 1st quarter. Janus Henderson Group PLC now owns 564,955 shares of the company’s stock worth $39,730,000 after purchasing an additional 143,749 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Kontoor Brands during the 2nd quarter worth $45,003,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Insider Buying and Selling at Kontoor Brands

In related news, CEO Scott H. Baxter sold 184,403 shares of the 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 sale, the chief executive officer directly owned 261,786 shares of the company’s stock, valued at approximately $21,832,952.40. This represents a 41.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the sale, the executive vice president directly owned 25,063 shares in the company, valued at approximately $2,091,006.09. The trade was a 23.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

KTB has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Kontoor Brands in a report on Tuesday, September 15th. JPMorgan Chase & Co. boosted their price objective on shares of Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Needham & Company LLC initiated coverage on shares of Kontoor Brands in a research report on Friday, October 16th. They set a “hold” rating on the stock. Finally, UBS Group increased 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. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $77.86 on Friday. The stock has a fifty day moving average price of $71.28 and a 200 day moving average price of $74.93. The stock has a market cap of $4.26 billion, a PE ratio of 16.26 and a beta of 0.87. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The company had revenue of $584.29 million for the quarter, compared to the consensus estimate of $586.95 million. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%. Kontoor Brands’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Sell-side analysts forecast that Kontoor Brands, Inc. will post 5.27 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Tuesday, December 8th will be paid a dividend of $0.54 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. Kontoor Brands’s dividend payout ratio is presently 44.26%.

About Kontoor Brands

Kontoor Brands, Inc (NYSE: KTB) is a global lifestyle apparel company focused on denim and casualwear. Its portfolio includes the Wrangler and Lee brands, as well as Rock & Republic, offering jeans, shirts, jackets, tops, bottoms, accessories and related products for men, women and children.

The company sells its products through wholesale customers, including department stores, specialty retailers and mass merchants, as well as through company-operated stores and e-commerce channels. Kontoor serves consumers in North America and international markets, with products distributed across multiple regions worldwide.

Kontoor Brands became an independent publicly traded company in 2019 following its separation from VF Corporation.