Walleye Capital LLC Buys Shares of 115,276 Kontoor Brands, Inc. $KTB

Walleye Capital LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 115,276 shares of the company’s stock, valued at approximately $8,103,000.

A number of other hedge funds have also modified their holdings of the business. Cetera Investment Advisers raised its holdings in Kontoor Brands by 37.5% in the 1st quarter. Cetera Investment Advisers now owns 31,157 shares of the company’s stock valued at $2,190,000 after buying an additional 8,502 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kontoor Brands by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company’s stock worth $89,132,000 after buying an additional 6,477 shares during the period. Jennison Associates LLC boosted its stake in Kontoor Brands by 0.9% during the first quarter. Jennison Associates LLC now owns 1,225,371 shares of the company’s stock worth $86,131,000 after buying an additional 10,540 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Kontoor Brands by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 298,072 shares of the company’s stock valued at $21,133,000 after acquiring an additional 104,466 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Kontoor Brands by 11.8% during the first quarter. D.A. Davidson & CO. now owns 15,959 shares of the company’s stock valued at $1,122,000 after acquiring an additional 1,690 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 completion of the transaction, the executive vice president owned 40,261 shares in the company, valued at $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Kontoor Brands in a research report on Friday, May 1st. Weiss Ratings upgraded Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, JPMorgan Chase & Co. initiated coverage on Kontoor Brands in a research report on Monday, June 8th. They set an “overweight” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.20.

Kontoor Brands Stock Up 1.7%

Shares of NYSE:KTB opened at $86.72 on Thursday. The firm has a market capitalization of $4.79 billion, a PE ratio of 17.55 and a beta of 0.87. Kontoor Brands, Inc. has a 1 year low of $53.55 and a 1 year high of $88.96. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. The firm’s 50-day moving average is $77.33 and its two-hundred day moving average is $71.04.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). The business had revenue of $613.32 million during the quarter, compared to analysts’ expectations of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Analysts predict that Kontoor Brands, Inc. will post 5.2 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 42.91%.

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.