13,741 Shares in Kontoor Brands, Inc. $KTB Purchased by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has acquired a new position in Kontoor Brands, Inc. by purchasing 13,741 shares valued at approximately $881,000.
• Analysts have been optimistic about Kontoor Brands, with Barclays and UBS Group raising their target prices, resulting in a consensus target price of $89.67 and a rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.52, equating to an annual yield of 2.6%, with the payment scheduled for September 19th.

Cinctive Capital Management LP purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,741 shares of the company's stock, valued at approximately $881,000.

A number of other institutional investors also recently modified their holdings of KTB. CX Institutional bought a new position in shares of Kontoor Brands in the 1st quarter worth about $32,000. Versant Capital Management Inc grew its stake in Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after acquiring an additional 207 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $98,000. Blue Trust Inc. increased its holdings in Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after purchasing an additional 274 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Kontoor Brands in the first quarter valued at approximately $94,000. 93.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KTB. Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays reissued an "overweight" rating and issued a $91.00 target price (up from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Finally, Stifel Nicolaus raised their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.33.

Kontoor Brands Trading Up 7.3%

NYSE KTB traded up $5.61 during trading on Thursday, hitting $82.85. 255,281 shares of the company's stock traded hands, compared to its average volume of 724,162. The firm has a market cap of $4.60 billion, a P/E ratio of 18.49, a PEG ratio of 1.80 and a beta of 1.10. The stock has a fifty day moving average of $69.21 and a two-hundred day moving average of $66.12. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.35. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The firm had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue was up 8.5% on a year-over-year basis. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.08 annualized dividend and a yield of 2.5%. Kontoor Brands's payout ratio is presently 46.43%.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.