Comerica Bank Reduces Stock Position in Kontoor Brands, Inc. $KTB

Key Points

• Comerica Bank has reduced its stake in Kontoor Brands, Inc. by 12.6%, now owning approximately 52,612 shares valued at around $3.37 million as of its latest SEC filing.
• Kontoor Brands reported an earnings per share (EPS) of $1.21 for the last quarter, surpassing analysts' predictions and showing an 8.5% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.52 per share, contributing to an annualized dividend of $2.08 with a yield of 2.7%.

Comerica Bank cut its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,612 shares of the company's stock after selling 7,572 shares during the quarter. Comerica Bank owned about 0.09% of Kontoor Brands worth $3,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional purchased a new stake in Kontoor Brands in the 1st quarter worth approximately $32,000. Versant Capital Management Inc lifted its stake in Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $42,000 after purchasing an additional 207 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kontoor Brands in the 4th quarter worth approximately $98,000. Blue Trust Inc. lifted its stake in Kontoor Brands by 23.4% in the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after purchasing an additional 274 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in Kontoor Brands in the 1st quarter worth approximately $94,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

KTB stock opened at $77.22 on Friday. 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 52 week low of $50.00 and a 52 week high of $96.80. The firm's fifty day moving average is $67.21 and its 200 day moving average is $66.38. The firm has a market cap of $4.29 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.77 and a beta of 1.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its 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. 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 last year, the firm earned $0.98 EPS. The firm'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. Research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.52 per share. 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 dividend payout ratio (DPR) is currently 46.43%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays reiterated an "overweight" rating and issued a $91.00 target price (up from $86.00) on shares of Kontoor Brands in a research note on Friday, August 8th. Stifel Nicolaus increased 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. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, UBS Group increased their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $89.67.

About Kontoor Brands

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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