Kontoor Brands, Inc. $KTB Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments cut its Kontoor Brands stake by 69.1% in the second quarter, selling 17,848 shares and retaining 7,997 shares valued at approximately $666,000. Institutional investors and hedge funds collectively own 93.06% of KTB.
• Analysts remain broadly positive, with Kontoor receiving a “Moderate Buy” consensus rating and an average price target of $95. Wells Fargo, UBS, and JPMorgan recently raised their targets.
• Kontoor’s latest quarterly earnings slightly exceeded expectations at $1.06 per share, although revenue fell 11.2% year over year. The company pays a quarterly dividend of $0.53, representing a 3.2% annualized yield.

Tidal Investments LLC lowered its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 69.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,997 shares of the company's stock after selling 17,848 shares during the period. Tidal Investments LLC's holdings in Kontoor Brands were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Kontoor Brands in the 2nd quarter worth about $26,000. CENTRAL TRUST Co acquired a new position in shares of Kontoor Brands during the 1st quarter valued at about $35,000. Bell Investment Advisors Inc acquired a new position in shares of Kontoor Brands during the 2nd quarter valued at about $42,000. Hantz Financial Services Inc. increased its stake in shares of Kontoor Brands by 196.2% during the 4th 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. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Kontoor Brands during the 2nd quarter worth about $61,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kontoor Brands

In related news, CEO Scott H. Baxter sold 184,403 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was 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 in the company, valued at approximately $21,832,952.40. The trade was a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $83.43, for a total value of $639,073.80. Following the completion of the transaction, the executive vice president owned 25,063 shares in the company, valued at approximately $2,091,006.09. This trade represents a 23.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

KTB has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Kontoor Brands from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Kontoor Brands from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. UBS Group lifted their price target 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. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Kontoor Brands from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $95.00.

Kontoor Brands Stock Up 0.5%

NYSE KTB opened at $66.68 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82. Kontoor Brands, Inc. has a fifty-two week low of $56.19 and a fifty-two week high of $88.96. The business has a 50 day moving average price of $78.74 and a two-hundred day moving average price of $75.32. The stock has a market cap of $3.64 billion, a PE ratio of 13.92 and a beta of 0.87.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $584.29 million for the quarter, compared to analyst estimates of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The business's quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, sell-side analysts predict that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

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

About Kontoor Brands

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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