Corient Private Wealth LP Boosts Stake in Kontoor Brands, Inc. $KTB

Key Points

• Corient Private Wealth increased its Kontoor Brands stake by 446% in the second quarter to 43,977 shares, while institutional investors overall owned 93.06% of the company.
• Analysts remained broadly positive, with an average “Moderate Buy” rating and a $95 price target; Wells Fargo, UBS and JPMorgan recently raised their targets.
• Kontoor slightly beat quarterly EPS estimates at $1.06, though revenue fell 11.2% year over year to $584.29 million. The company also maintains a quarterly dividend of $0.53, yielding about 3.2%.

Corient Private Wealth LP lifted its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 446.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,977 shares of the company's stock after acquiring an additional 35,923 shares during the period. Corient Private Wealth LP owned 0.08% of Kontoor Brands worth $3,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KTB. BlackRock Inc. purchased a new position in Kontoor Brands during the second quarter valued at $674,664,000. Norges Bank purchased a new stake in shares of Kontoor Brands in the 4th quarter worth about $36,185,000. Bank of New York Mellon Corp purchased a new stake in shares of Kontoor Brands in the 2nd quarter worth about $45,003,000. Bank of America Corp DE bought a new position in shares of Kontoor Brands in the 2nd quarter worth about $38,382,000. Finally, Nicholas Investment Partners LP bought a new position in shares of Kontoor Brands in the 2nd quarter worth about $21,761,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. UBS Group lifted their target price on shares of Kontoor Brands from $131.00 to $136.00 and gave the company a "buy" rating in a report on Thursday, August 13th. JPMorgan Chase & Co. upped their price target on Kontoor Brands from $90.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, BTIG Research reaffirmed a "buy" rating and set a $105.00 price objective on shares of Kontoor Brands in a research report on Tuesday, September 15th. One equities research 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 stock. According to MarketBeat, Kontoor Brands presently has an average rating of "Moderate Buy" and an average target price of $95.00.

Insider Transactions at Kontoor Brands

In other news, EVP Thomas Doerr, Jr. sold 7,660 shares of Kontoor Brands 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 transaction, the executive vice president directly owned 25,063 shares of the company's stock, valued at $2,091,006.09. The trade was a 23.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Baxter sold 184,403 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.40, for a total value of $15,379,210.20. Following the transaction, the chief executive officer owned 261,786 shares of the company's stock, valued at approximately $21,832,952.40. This trade represents a 41.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company's stock.

Kontoor Brands Price Performance

NYSE KTB opened at $66.68 on Monday. Kontoor Brands, Inc. has a 52 week low of $56.19 and a 52 week high of $88.96. The firm has a market capitalization of $3.64 billion, a P/E ratio of 13.92 and a beta of 0.87. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average price of $78.74 and a 200-day moving average price of $75.32.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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 business had revenue of $584.29 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Equities research analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were given a $0.53 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a yield of 3.2%. Kontoor Brands's dividend payout ratio is presently 44.26%.

Kontoor Brands 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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