Jennison Associates LLC Buys 99,593 Shares of Kontoor Brands, Inc. $KTB

Jennison Associates LLC raised its stake in Kontoor Brands, Inc. (NYSE:KTB) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,214,831 shares of the company’s stock after purchasing an additional 99,593 shares during the quarter. Jennison Associates LLC’s holdings in Kontoor Brands were worth $74,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KTB. Royal Bank of Canada increased its holdings in Kontoor Brands by 29.1% in the 1st quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock valued at $6,793,000 after acquiring an additional 23,880 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Kontoor Brands by 49.3% in the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after buying an additional 4,836 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Kontoor Brands by 250.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after buying an additional 6,712 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kontoor Brands by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock worth $2,102,000 after buying an additional 1,432 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Kontoor Brands by 222.5% in the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after buying an additional 107,855 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Kontoor Brands from $74.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Jefferies Financial Group assumed coverage on shares of Kontoor Brands in a report on Wednesday, February 4th. They issued a “hold” rating and a $65.00 target price on the stock. BTIG Research boosted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Kontoor Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Finally, UBS Group boosted their target price on shares of Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Stock Performance

Shares of NYSE:KTB opened at $73.53 on Friday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 18.16 and a beta of 1.05. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $87.00. The firm’s 50-day moving average is $70.84 and its 200 day moving average is $69.66. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 2.01.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.65 by $0.08. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. Kontoor Brands’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 EPS. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. Research analysts predict that Kontoor Brands, Inc. will post 6.46 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s payout ratio is 52.35%.

About Kontoor Brands

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.