168,784 Shares in Kontoor Brands, Inc. $KTB Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital bought 168,784 shares of Kontoor Brands worth approximately $11.9 million, acquiring a 0.31% stake. Institutional investors collectively own 93.06% of the company.
• Analysts maintain a generally positive outlook, with Kontoor receiving a consensus “Moderate Buy” rating and an average price target of $91.20.
• Kontoor reported quarterly EPS of $1.06, below the $1.17 consensus estimate, while revenue reached $613.3 million. The company also declared a quarterly dividend of $0.53 per share, yielding about 2.5% annually.

Arrowstreet Capital Limited Partnership bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 168,784 shares of the company's stock, valued at approximately $11,864,000. Arrowstreet Capital Limited Partnership owned approximately 0.31% of Kontoor Brands as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Sei Investments Co. grew its stake in Kontoor Brands by 31.3% in the 1st quarter. Sei Investments Co. now owns 88,085 shares of the company's stock valued at $6,191,000 after purchasing an additional 21,011 shares during the period. Walleye Capital LLC purchased a new position in shares of Kontoor Brands in the 1st quarter worth about $8,103,000. Cetera Investment Advisers boosted its holdings in shares of Kontoor Brands by 37.5% in the 1st quarter. Cetera Investment Advisers now owns 31,157 shares of the company's stock worth $2,190,000 after buying an additional 8,502 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Kontoor Brands by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company's stock valued at $89,132,000 after buying an additional 6,477 shares during the period. Finally, Jennison Associates LLC increased its holdings in Kontoor Brands by 0.9% during the first quarter. Jennison Associates LLC now owns 1,225,371 shares of the company's stock worth $86,131,000 after buying an additional 10,540 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KTB has been the topic of a number of research reports. BTIG Research reaffirmed a "buy" rating and issued a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. Weiss Ratings raised Kontoor Brands from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. Wall Street Zen lowered Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Barclays upped their price target on Kontoor Brands from $93.00 to $96.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. initiated coverage on Kontoor Brands in a research note on Monday, June 8th. They set an "overweight" rating and a $90.00 price target for the company. 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 assigned a Sell rating to the company's stock. According to MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and a consensus price target of $91.20.

Kontoor Brands Trading Down 0.2%

Shares of KTB opened at $83.69 on Friday. The firm's 50 day simple moving average is $80.05 and its 200 day simple moving average is $72.13. The company has a market capitalization of $4.63 billion, a P/E ratio of 16.94 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, Inc. has a 1-year low of $53.55 and a 1-year high of $88.96.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The firm had revenue of $613.32 million for the quarter, compared to the consensus estimate of $784.76 million. During the same period last year, the firm earned $1.20 EPS. The company'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. Sell-side analysts forecast that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced 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 dividend yield of 2.5%. Kontoor Brands's dividend payout ratio (DPR) is presently 42.91%.

Insider Transactions at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the sale, the executive vice president directly owned 40,261 shares in the company, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate 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.

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