Pinnbrook Capital Management LP Makes New $2.04 Million Investment in Kontoor Brands, Inc. $KTB

Pinnbrook Capital Management LP acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the second quarter, Holdings Channel reports. The firm acquired 24,500 shares of the company’s stock, valued at approximately $2,042,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Kontoor Brands by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $166,000 after purchasing an additional 134 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings 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 buying an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 during the last quarter. Bank of Montreal Can lifted its holdings in shares of Kontoor Brands by 1.8% during the fourth 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 period. Finally, Stifel Financial Corp increased its position in shares of 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 buying an additional 199 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. BTIG Research raised their price target on Kontoor Brands from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Price Performance

Shares of KTB stock opened at $82.03 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82. The business’s fifty day moving average is $82.51 and its 200 day moving average is $74.45. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 17.13 and a beta of 0.88. Kontoor Brands, Inc. has a twelve month low of $56.19 and a twelve month high of $88.96.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The company had revenue of $584.29 million for the quarter, compared to the consensus estimate of $586.95 million. During the same period in the prior year, the firm posted $1.33 EPS. Kontoor Brands’s revenue for the quarter was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. Research analysts expect that Kontoor Brands, Inc. will post 5.27 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.6%. Kontoor Brands’s dividend payout ratio (DPR) is presently 44.26%.

Insider Activity

In other news, CEO Scott H. Baxter sold 184,403 shares of the firm’s 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 transaction, the chief executive officer owned 261,786 shares of the company’s stock, valued at $21,832,952.40. This trade represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president directly owned 40,261 shares in the company, valued at $3,261,946.22. This represents a 9.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 196,063 shares of company stock valued at $16,342,364 in the last 90 days. Company 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.