Ancora Advisors LLC Takes Position in Kontoor Brands, Inc. $KTB

Key Points

• Ancora Advisors acquired 96,890 shares of Kontoor Brands valued at approximately $8.1 million, joining several other institutions that established new positions during the second quarter. Institutional investors now own 93.06% of KTB.
• Kontoor Brands reported quarterly EPS of $1.06, slightly exceeding estimates, but revenue fell 11.2% year over year to $584.3 million. The company declared a $0.53 quarterly dividend, equivalent to a 2.7% yield.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $95.00. However, company insiders sold approximately $16.3 million of shares over the past 90 days, including substantial sales by the CEO and an executive vice president.

Ancora Advisors LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,890 shares of the company's stock, valued at approximately $8,075,000. Ancora Advisors LLC owned about 0.18% of Kontoor Brands as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KTB. Nicholas Investment Partners LP purchased a new position in Kontoor Brands during the second quarter worth about $21,761,000. Legal & General Group Plc purchased a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $9,890,000. The Manufacturers Life Insurance Company acquired a new position in shares of Kontoor Brands in the second quarter worth $2,234,000. Infrastructure Capital Advisors LLC acquired a new stake in Kontoor Brands during the second quarter worth approximately $651,000. Finally, Sanctuary Advisors LLC acquired a new stake in Kontoor Brands in the 2nd quarter worth about $350,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $79.70 on Wednesday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 16.64 and a beta of 0.88. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. The business has a fifty day simple moving average of $82.63 and a 200 day simple moving average of $74.79. Kontoor Brands, Inc. has a 1 year low of $56.19 and a 1 year high of $88.96.

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

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands's dividend payout ratio (DPR) is currently 44.26%.

Insider Buying and Selling

In other Kontoor Brands news, CEO Scott H. Baxter sold 184,403 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was 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. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. 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 sale, the executive vice president owned 25,063 shares in the company, valued at $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. Insiders have sold 196,063 shares of company stock valued at $16,342,364 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group raised their price objective on Kontoor Brands from $131.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Zacks Research upgraded Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Kontoor Brands from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Barclays upped their price target on Kontoor Brands from $96.00 to $99.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Finally, BTIG Research lifted their target price on Kontoor Brands from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, August 14th. 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and an average 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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