Geode Capital Management LLC Acquires 13,725 Shares of Kontoor Brands, Inc. $KTB

Geode Capital Management LLC grew its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,419,700 shares of the company’s stock after buying an additional 13,725 shares during the quarter. Geode Capital Management LLC’s holdings in Kontoor Brands were worth $86,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KTB. Boston Partners bought a new stake in shares of Kontoor Brands in the third quarter valued at approximately $44,733,000. Amundi bought a new stake in shares of Kontoor Brands in the third quarter valued at approximately $24,653,000. Balyasny Asset Management L.P. raised its position in shares of Kontoor Brands by 134.3% in the second quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after purchasing an additional 268,604 shares during the period. Danske Bank A S bought a new stake in shares of Kontoor Brands in the third quarter valued at approximately $12,002,000. Finally, Man Group plc raised its position in shares of Kontoor Brands by 23.7% in the second quarter. Man Group plc now owns 765,512 shares of the company’s stock valued at $50,501,000 after purchasing an additional 146,858 shares during the period. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $70.08 on Monday. The company has a 50 day moving average of $70.73 and a 200 day moving average of $67.90. The stock has a market cap of $3.87 billion, a P/E ratio of 14.19 and a beta of 0.89. Kontoor Brands, Inc. has a 12 month low of $53.55 and a 12 month high of $87.00. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83.

Kontoor Brands (NYSE:KTB) last issued 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 firm had revenue of $613.32 million for 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%. Kontoor Brands’s revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, sell-side analysts forecast that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s payout ratio is currently 42.91%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KTB. Weiss Ratings raised shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Zacks Research lowered shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group boosted their price target on shares of Kontoor Brands from $118.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. 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. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.

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.