Ameriprise Financial Inc. Sells 47,369 Shares of Kontoor Brands, Inc. $KTB

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. reduced its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307,917 shares of the company's stock after selling 47,369 shares during the period. Ameriprise Financial Inc. owned 2.35% of Kontoor Brands worth $83,877,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $38,327,000 after purchasing an additional 10,748 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of Kontoor Brands during the first quarter valued at about $2,685,000. GAMMA Investing LLC lifted its position in shares of Kontoor Brands by 4,248.1% during the first quarter. GAMMA Investing LLC now owns 38,350 shares of the company's stock valued at $2,459,000 after purchasing an additional 37,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Kontoor Brands by 14.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,908 shares of the company's stock valued at $315,000 after purchasing an additional 611 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Kontoor Brands by 129.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 36,580 shares of the company's stock valued at $2,347,000 after purchasing an additional 20,625 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded up $0.49 during midday trading on Friday, hitting $77.22. The company's stock had a trading volume of 909,931 shares, compared to its average volume of 859,221. The stock has a fifty day moving average price of $67.21 and a 200 day moving average price of $66.26. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.77 and a beta of 1.10.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.35. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The company had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company's quarterly revenue 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. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Kontoor Brands's payout ratio is 46.43%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KTB. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Barclays reaffirmed an "overweight" rating and issued a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Stifel Nicolaus lifted their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of "Moderate Buy" and an average target price of $89.67.

Kontoor Brands Company 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.