Amundi Lowers Stock Position in Kontoor Brands, Inc. $KTB

Key Points

• Amundi reduced its Kontoor Brands stake by 70.4% in the second quarter, selling 89,470 shares and retaining 37,569 shares valued at approximately $3.1 million. Institutional investors collectively own 93.06% of the company.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $95. JPMorgan, BTIG, UBS and Barclays recently raised their price targets.
• Kontoor reported quarterly EPS of $1.06, slightly above estimates, though revenue fell 11.2% year over year. The company also declared a quarterly dividend of $0.53 per share, representing a 3.2% annualized yield.

Amundi cut its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 70.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,569 shares of the company's stock after selling 89,470 shares during the quarter. Amundi owned 0.07% of Kontoor Brands worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of KTB. Royal Bank of Canada grew its position in Kontoor Brands by 29.1% in 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 in the last quarter. AQR Capital Management LLC raised its position in Kontoor Brands by 49.3% during the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company's stock valued at $939,000 after purchasing an additional 4,836 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Kontoor Brands by 250.8% during the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company's stock valued at $602,000 after purchasing an additional 6,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Kontoor Brands by 4.6% during the first 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 during the last quarter. Finally, Millennium Management LLC lifted its stake in Kontoor Brands by 222.5% during the first 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 during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Kontoor Brands from $90.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. BTIG Research upped their target price on Kontoor Brands from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. UBS Group increased their price target on shares of Kontoor Brands from $131.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. Finally, Barclays boosted their price objective on shares of Kontoor Brands from $96.00 to $99.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Kontoor Brands Stock Up 1.0%

Shares of Kontoor Brands stock opened at $66.81 on Friday. 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, Inc. has a 52-week low of $56.19 and a 52-week high of $88.96. The company's 50 day moving average price is $80.62 and its 200-day moving average price is $75.23. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.95 and a beta of 0.87.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $584.29 million during the quarter, compared to analyst estimates of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The firm's revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Equities research analysts forecast that Kontoor Brands, Inc. will post 5.27 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.2%. Kontoor Brands's payout ratio is presently 44.26%.

Insider Activity

In related news, 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 transaction, the chief executive officer owned 261,786 shares in the company, valued at $21,832,952.40. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Doerr, Jr. sold 7,660 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the transaction, the executive vice president directly owned 25,063 shares of the company's stock, valued at approximately $2,091,006.09. The trade was a 23.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is owned by insiders.

Kontoor Brands Company Profile

Kontoor Brands, Inc NYSE: KTB is a global lifestyle apparel company that designs, manufactures, sources and markets branded clothing and accessories. The company is best known for its denim and casualwear businesses, serving consumers through wholesale distributors, department and specialty stores, company-operated retail locations and e-commerce channels.

Kontoor's principal brands include Wrangler, a heritage brand focused on denim, westernwear, workwear and casual apparel, and Lee, which offers denim and lifestyle clothing for men, women and children.

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