Allspring Global Investments Holdings LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 137,044 shares of the company's stock, valued at approximately $9,647,000. Allspring Global Investments Holdings LLC owned approximately 0.25% of Kontoor Brands at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in KTB. Ameritas Advisory Services LLC acquired a new position in Kontoor Brands during the second quarter worth $35,000. Blue Trust Inc. boosted its position in shares of Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after acquiring an additional 274 shares during the last quarter. SVB Wealth LLC acquired a new stake in Kontoor Brands during the first quarter worth about $94,000. Advisors Asset Management Inc. raised its stake in Kontoor Brands by 240.8% during the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company's stock worth $112,000 after purchasing an additional 1,233 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in Kontoor Brands by 12.7% during the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock worth $115,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 93.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on KTB. Stifel Nicolaus raised their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kontoor Brands in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of Kontoor Brands from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Finally, UBS Group upped their price target on Kontoor Brands from $99.00 to $114.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.38.
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Kontoor Brands Trading Down 1.7%
Shares of KTB stock opened at $84.81 on Friday. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a 50 day moving average price of $78.38 and a 200 day moving average price of $69.22. The stock has a market capitalization of $4.71 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18.
Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.86 by $0.35. The company had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. Equities research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.
Kontoor Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Kontoor Brands's dividend payout ratio (DPR) is currently 46.43%.
Kontoor Brands Company Profile
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Free Report)
Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.
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