Jupiter Topco LLC Acquires Shares of 87,713 Kontoor Brands, Inc. $KTB

Key Points

• Jupiter Topco LLC acquired 87,713 shares of Kontoor Brands valued at approximately $7.3 million, representing about 0.16% of the company. Institutional investors collectively own 93.06% of outstanding shares.
• Analyst sentiment remains positive, with Kontoor carrying a “Moderate Buy” consensus rating and an average price target of $95; Wells Fargo, UBS and BTIG recently raised their targets.
• Kontoor slightly exceeded quarterly EPS expectations at $1.06, but revenue fell 11.2% year over year. The company also declared a quarterly dividend of $0.53 per share, implying a 2.7% yield.

Jupiter Topco LLC bought a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 87,713 shares of the company's stock, valued at approximately $7,311,000. Jupiter Topco LLC owned about 0.16% of Kontoor Brands at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Transamerica Financial Advisors LLC lifted its position in shares of Kontoor Brands by 335.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company's stock worth $25,000 after acquiring an additional 312 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Kontoor Brands in the 2nd quarter worth $26,000. Hantz Financial Services Inc. increased its stake in Kontoor Brands by 196.2% in the fourth quarter. Hantz Financial Services Inc. now owns 551 shares of the company's stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of Kontoor Brands during the 1st quarter valued at about $35,000. Finally, Bell Investment Advisors Inc purchased a new position in shares of Kontoor Brands during the second quarter worth approximately $42,000. Institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Kontoor Brands from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 9th. UBS Group lifted their price target on Kontoor Brands from $131.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Kontoor Brands from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, BTIG Research increased their target price on Kontoor Brands from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $95.00.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Baxter sold 184,403 shares of the firm's stock in a transaction dated 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. The trade was a 41.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 196,063 shares of company stock valued at $16,342,364 in the last 90 days. Insiders own 1.80% of the company's stock.

Kontoor Brands Price Performance

NYSE KTB opened at $77.19 on Monday. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. Kontoor Brands, Inc. has a 12 month low of $56.19 and a 12 month high of $88.96. The company's 50 day moving average is $82.63 and its two-hundred day moving average is $75.02. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 16.11 and a beta of 0.88.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share for the quarter, topping 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 company had revenue of $584.29 million during the quarter, compared to the consensus estimate of $586.95 million. During the same quarter in the prior year, the firm posted $1.33 EPS. Kontoor Brands'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, 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 announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands's payout ratio is 44.26%.

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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