Kontoor Brands, Inc. $KTB Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in Kontoor Brands by 3.5%, selling 47,369 shares and retaining approximately 1.3 million shares valued at $83.9 million.
• Kontoor Brands recently reported an earnings per share (EPS) of $1.21, exceeding analyst expectations, with a revenue of $658.26 million for the quarter, a year-on-year increase of 8.5%.
• The company announced a quarterly dividend of $0.52 per share, set to be paid on September 19th, with a dividend yield of 2.7%.

Ameriprise Financial Inc. cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,307,917 shares of the company's stock after selling 47,369 shares during the quarter. Ameriprise Financial Inc. owned about 2.35% of Kontoor Brands worth $83,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Kontoor Brands by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after buying an additional 5,207 shares during the period. Northern Trust Corp lifted its position in Kontoor Brands by 1.0% during the first quarter. Northern Trust Corp now owns 1,134,524 shares of the company's stock worth $72,757,000 after buying an additional 10,847 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in Kontoor Brands by 5.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company's stock worth $69,994,000 after buying an additional 53,992 shares during the period. Jennison Associates LLC lifted its position in Kontoor Brands by 10.7% during the first quarter. Jennison Associates LLC now owns 876,666 shares of the company's stock worth $56,221,000 after buying an additional 84,588 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Kontoor Brands by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 597,638 shares of the company's stock worth $38,327,000 after buying an additional 10,748 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Down 1.7%

Shares of KTB stock traded down $1.30 during trading hours on Thursday, reaching $76.66. The company had a trading volume of 527,621 shares, compared to its average volume of 918,045. 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, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The company has a market capitalization of $4.26 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The stock's fifty day simple moving average is $66.94 and its 200 day simple moving average is $66.51.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.35. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The business had revenue of $658.26 million during the quarter, compared to analyst estimates of $632.97 million. During the same quarter last year, the firm earned $0.98 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. As a group, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Kontoor Brands's dividend payout ratio (DPR) is 46.43%.

Wall Street Analysts Forecast Growth

KTB has been the topic of several recent analyst reports. Barclays reiterated an "overweight" rating and set a $91.00 target price (up from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Wells Fargo & Company increased their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. UBS Group upped their price target on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus upped their price target on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.67.

Kontoor Brands Profile

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.