Hillsdale Investment Management Inc. Has $7.57 Million Holdings in Kontoor Brands, Inc. $KTB

Key Points

• Hillsdale Investment Management increased its stake in Kontoor Brands by 13.5% in the first quarter, ending with 107,700 shares valued at about $7.57 million.
• Kontoor Brands reported mixed quarterly results, with EPS of $1.06 coming in below estimates and revenue of $613.32 million missing expectations, though revenue still rose 45% year over year.
• The company also paid a quarterly dividend of $0.53 per share, and analysts currently rate the stock a Moderate Buy with a consensus target price of $91.20.

Hillsdale Investment Management Inc. increased its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 13.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,700 shares of the company's stock after buying an additional 12,800 shares during the quarter. Hillsdale Investment Management Inc. owned 0.19% of Kontoor Brands worth $7,570,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of KTB. Fifth Third Bancorp raised its stake in Kontoor Brands by 5,635.9% during the first quarter. Fifth Third Bancorp now owns 82,826 shares of the company's stock worth $5,822,000 after acquiring an additional 81,382 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Kontoor Brands by 6.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,317 shares of the company's stock valued at $303,000 after acquiring an additional 245 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Kontoor Brands in the 1st quarter valued at $200,000. Azzad Asset Management Inc. ADV boosted its stake in shares of Kontoor Brands by 40.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 58,636 shares of the company's stock valued at $4,122,000 after purchasing an additional 16,760 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of Kontoor Brands in the 1st quarter valued at $216,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Stock Down 0.9%

Shares of NYSE:KTB opened at $84.92 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The firm has a market cap of $4.69 billion, a P/E ratio of 17.19 and a beta of 0.87. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $88.85. The company's 50-day moving average price is $75.37 and its two-hundred day moving average price is $69.89.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same period in the prior year, the firm posted $1.20 earnings per share. The company's revenue was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, research analysts forecast that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands's dividend payout ratio (DPR) is 42.91%.

Insider Buying and Selling at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares of the company's stock, valued at $3,261,946.22. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on KTB. JPMorgan Chase & Co. initiated coverage on shares of Kontoor Brands in a research report on Monday, June 8th. They set an "overweight" rating and a $90.00 target price for the company. Wall Street Zen lowered shares of Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Kontoor Brands from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Finally, BTIG Research reiterated a "buy" rating and issued a $100.00 target price on shares of Kontoor Brands in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and a consensus target price of $91.20.

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.

Want to see what other hedge funds are holding KTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kontoor Brands, Inc. (NYSE:KTB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.