Algert Global LLC Reduces Position in Kontoor Brands, Inc. $KTB

Algert Global LLC reduced its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 60.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,160 shares of the company's stock after selling 62,109 shares during the quarter. Algert Global LLC owned 0.07% of Kontoor Brands worth $3,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KTB. UBS Group AG raised its position in Kontoor Brands by 3.8% in the 4th quarter. UBS Group AG now owns 551,758 shares of the company's stock worth $33,707,000 after buying an additional 20,270 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of Kontoor Brands during the 2nd quarter valued at about $8,877,000. Jennison Associates LLC boosted its holdings in shares of Kontoor Brands by 8.9% during the 4th quarter. Jennison Associates LLC now owns 1,214,831 shares of the company's stock valued at $74,214,000 after acquiring an additional 99,593 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Kontoor Brands in the first quarter worth approximately $1,918,000. Finally, BlackRock Inc. bought a new stake in shares of Kontoor Brands in the second quarter worth approximately $674,664,000. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

NYSE:KTB opened at $77.19 on Friday. 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 stock's 50 day simple moving average is $82.63 and its two-hundred day simple moving average is $74.96. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 16.11 and a beta of 0.88.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The business had revenue of $584.29 million during the quarter, compared to analysts' expectations of $586.95 million. During the same period last year, the company posted $1.33 EPS. The business's revenue was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, equities analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands's dividend payout ratio (DPR) is presently 44.26%.

Insider Buying and Selling at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares of the company's stock, valued at approximately $3,261,946.22. This represents a 9.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $83.43, for a total value of $639,073.80. Following the transaction, the executive vice president owned 25,063 shares in the company, valued at approximately $2,091,006.09. This represents a 23.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 196,063 shares of company stock valued at $16,342,364 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on KTB. Wells Fargo & Company lifted their price objective on Kontoor Brands from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. UBS Group increased their target price on Kontoor Brands from $131.00 to $136.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Weiss Ratings raised Kontoor Brands from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Wall Street Zen downgraded Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 9th. One investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $95.00.

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.

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