26,811 Shares in Kontoor Brands, Inc. $KTB Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Kontoor Brands, Inc. (NYSE:KTB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,811 shares of the company’s stock, valued at approximately $2,234,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Kontoor Brands in the second quarter worth about $26,000. Transamerica Financial Advisors LLC grew 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 purchasing an additional 312 shares in the last quarter. CENTRAL TRUST Co bought a new stake in Kontoor Brands during the 1st quarter valued at approximately $35,000. Bell Investment Advisors Inc bought a new stake in Kontoor Brands during the 2nd quarter valued at approximately $42,000. Finally, Hantz Financial Services Inc. lifted its holdings in Kontoor Brands by 196.2% in the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KTB has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Kontoor Brands from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. UBS Group boosted their target price on shares of Kontoor Brands from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Kontoor Brands from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Finally, BTIG Research lifted their price target on shares of Kontoor Brands from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 14th. One 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Down 2.8%

NYSE KTB opened at $72.55 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83. The company has a market capitalization of $3.96 billion, a P/E ratio of 15.15 and a beta of 0.87. Kontoor Brands, Inc. has a one year low of $56.19 and a one year high of $88.96. The stock has a 50 day moving average price of $82.45 and a 200-day moving average price of $75.16.

Kontoor Brands (NYSE:KTB) last announced its quarterly 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. The company had revenue of $584.29 million for the quarter, compared to analysts’ expectations of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. Kontoor Brands’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, equities analysts predict that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.9%. Kontoor Brands’s payout ratio is 44.26%.

Insider Transactions at Kontoor Brands

In related news, CEO Scott H. Baxter sold 184,403 shares of Kontoor Brands 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 completion of the transaction, the chief executive officer owned 261,786 shares in the company, valued at approximately $21,832,952.40. This trade represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer H. Broyles sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the sale, the executive vice president directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 196,063 shares of company stock worth $16,342,364 in the last three months. Insiders own 1.80% of the company’s stock.

Kontoor Brands 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.