BI Asset Management Fondsmaeglerselskab A S Buys New Position in Kontoor Brands, Inc. $KTB

Key Points

• BI Asset Management opened a new position in Kontoor Brands during the first quarter, buying 27,283 shares worth about $1.92 million.
• Analysts remain mixed but generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $91.20. Recent calls included higher targets from Wells Fargo, Barclays, and Goldman Sachs, while some firms downgraded the shares to hold.
• Kontoor Brands reported Q1 EPS of $1.06, below estimates, and revenue of $613.3 million, also missing expectations, though revenue was still up 45% year over year. The company also paid a quarterly dividend of $0.53 per share, implying a 2.8% yield.

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,283 shares of the company's stock, valued at approximately $1,918,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Transamerica Financial Advisors LLC lifted its holdings in Kontoor Brands by 335.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company's stock valued at $25,000 after acquiring an additional 312 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company's stock worth $27,000 after purchasing an additional 330 shares in the last quarter. Torren Management LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth approximately $27,000. Assetmark Inc. raised its holdings in shares of Kontoor Brands by 532.3% in the 3rd quarter. Assetmark Inc. now owns 392 shares of the company's stock worth $31,000 after purchasing an additional 330 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in Kontoor Brands during the fourth quarter valued at approximately $31,000. 93.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KTB has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Wall Street Zen downgraded Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Barclays raised their price objective on Kontoor Brands from $93.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Weiss Ratings cut Kontoor Brands from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Finally, The Goldman Sachs Group boosted their target price on Kontoor Brands from $84.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.20.

Insider Transactions at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of the stock in a transaction dated 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. This represents a 9.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Kontoor Brands Trading Up 1.1%

NYSE KTB opened at $76.96 on Wednesday. Kontoor Brands, Inc. has a twelve month low of $53.55 and a twelve month high of $87.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 15.58 and a beta of 0.89. The firm's 50 day moving average price is $72.60 and its two-hundred day moving average price is $68.27.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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). The firm had revenue of $613.32 million for the quarter, compared to analyst estimates of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. Kontoor Brands's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Equities analysts anticipate that Kontoor Brands, Inc. will post 5.2 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands's payout ratio is presently 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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