252,064 Shares in Kontoor Brands, Inc. $KTB Acquired by Pacer Advisors Inc.

Key Points

• Pacer Advisors acquired 252,064 shares of Kontoor Brands valued at approximately $17.7 million, while institutional investors collectively own 93.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $92.70, above the reported share price of $83.62.
• Kontoor Brands declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 payout and a 2.5% yield; its latest quarterly earnings and revenue fell short of analyst expectations.

Pacer Advisors Inc. acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 252,064 shares of the company's stock, valued at approximately $17,718,000. Pacer Advisors Inc. owned about 0.46% of Kontoor Brands as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Kontoor Brands by 29.1% during the first quarter. Royal Bank of Canada now owns 105,895 shares of the company's stock worth $6,793,000 after acquiring an additional 23,880 shares during the last quarter. AQR Capital Management LLC raised its holdings in 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 acquiring an additional 4,836 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Kontoor Brands by 250.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company's stock valued at $602,000 after acquiring an additional 6,712 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Kontoor Brands by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company's stock worth $2,102,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Kontoor Brands by 222.5% in the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company's stock worth $10,026,000 after purchasing an additional 107,855 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction 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 completion of the sale, the executive vice president directly owned 40,261 shares of the company's stock, valued at approximately $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. BTIG Research reiterated a "buy" rating and set a $100.00 price objective on shares of Kontoor Brands in a research report on Friday, May 1st. Weiss Ratings raised Kontoor Brands from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 20th. Wall Street Zen cut Kontoor Brands from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Zacks Research raised Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $83.62 on Wednesday. The company's 50 day simple moving average is $80.59 and its 200-day simple moving average is $72.57. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. 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 $4.62 billion, a price-to-earnings ratio of 16.93 and a beta of 0.88.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data 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 return on equity of 60.17% and a net margin of 8.30%.The company had revenue of $613.32 million for the quarter, compared to analysts' expectations of $784.76 million. During the same period in the previous year, the business posted $1.20 EPS. The business'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. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands's dividend payout ratio (DPR) is currently 42.91%.

Kontoor Brands 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.

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