Jennison Associates LLC Has $86.13 Million Stake in Kontoor Brands, Inc. $KTB

Jennison Associates LLC raised its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,225,371 shares of the company’s stock after buying an additional 10,540 shares during the period. Jennison Associates LLC owned 2.22% of Kontoor Brands worth $86,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Kontoor Brands by 12.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,436 shares of the company’s stock worth $88,000 after acquiring an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Kontoor Brands by 9.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock valued at $110,000 after acquiring an additional 162 shares in the last quarter. Bank of Montreal Can lifted its holdings in Kontoor Brands by 1.8% in the 4th quarter. Bank of Montreal Can now owns 9,297 shares of the company’s stock worth $568,000 after purchasing an additional 164 shares during the last quarter. Stifel Financial Corp boosted its position in Kontoor Brands by 0.8% during the fourth quarter. Stifel Financial Corp now owns 24,710 shares of the company’s stock worth $1,510,000 after purchasing an additional 199 shares during the period. Finally, Allworth Financial LP boosted its position in Kontoor Brands by 2.5% during the third quarter. Allworth Financial LP now owns 8,553 shares of the company’s stock worth $682,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the sale, the executive vice president owned 40,261 shares of the company’s stock, valued at $3,261,946.22. The trade was a 9.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Kontoor Brands Stock Up 0.4%

KTB stock opened at $85.88 on Monday. Kontoor Brands, Inc. has a twelve month low of $53.55 and a twelve month high of $88.96. 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 company has a market cap of $4.75 billion, a PE ratio of 17.38 and a beta of 0.87. The business’s 50-day simple moving average is $76.25 and its 200 day simple moving average is $70.53.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The firm had revenue of $613.32 million during the quarter, compared to analyst estimates of $784.76 million. During the same period last year, the company earned $1.20 EPS. 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. On average, research analysts anticipate that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. Kontoor Brands’s payout ratio is currently 42.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KTB shares. 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. JPMorgan Chase & Co. assumed coverage on shares of Kontoor Brands in a research note on Monday, June 8th. They issued an “overweight” rating and a $90.00 target price on the stock. Barclays lifted their target price on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. BTIG Research reissued a “buy” rating and set a $100.00 target price on shares of Kontoor Brands in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.