Kontoor Brands, Inc. $KTB Stake Boosted by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 34.1% in the first quarter, HoldingsChannel.com reports. The firm owned 564,955 shares of the company’s stock after acquiring an additional 143,749 shares during the period. Janus Henderson Group PLC’s holdings in Kontoor Brands were worth $39,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kontoor Brands during the fourth quarter worth $36,185,000. Boston Partners acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at about $44,733,000. JPMorgan Chase & Co. grew its position in shares of Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock valued at $184,443,000 after buying an additional 413,005 shares during the last quarter. Amundi bought a new stake in shares of Kontoor Brands during the 3rd quarter valued at about $24,653,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Kontoor Brands by 134.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after buying an additional 268,604 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Down 0.1%

KTB stock opened at $83.69 on Monday. The stock has a market cap of $4.63 billion, a PE ratio of 16.94 and a beta of 0.87. The firm’s 50-day simple moving average is $80.05 and its 200 day simple moving average is $72.22. Kontoor Brands, Inc. has a fifty-two week low of $53.55 and a fifty-two week 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.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $784.76 million. During the same period in the previous year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, sell-side 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 will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 8th. Kontoor Brands’s payout ratio is 42.91%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Kontoor Brands in a report on Friday, May 1st. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. began coverage on Kontoor Brands in a research report on Monday, June 8th. They set an “overweight” rating and a $90.00 price target on the stock. Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. Finally, Barclays boosted their price objective on Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. One equities research 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 given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

Insider Activity

In other news, 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 transaction of $324,080.00. Following the completion of the transaction, the executive vice president directly owned 40,261 shares in the company, valued at approximately $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.