Hodges Capital Management Inc. Raises Stock Holdings in Kontoor Brands, Inc. $KTB

Key Points

• Hodges Capital Management Inc. increased its stake in Kontoor Brands, Inc. by 28.9%, owning 49,000 shares valued at $3.14 million after acquiring an additional 11,000 shares in the first quarter.
• Kontoor Brands recently reported better-than-expected quarterly earnings, with an EPS of $1.21, surpassing the consensus estimate of $0.86 and reflecting an 8.5% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.52, with an annualized yield of 2.5%, and the ex-dividend date set for September 9th.

Hodges Capital Management Inc. increased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,000 shares of the company's stock after buying an additional 11,000 shares during the quarter. Hodges Capital Management Inc. owned 0.09% of Kontoor Brands worth $3,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CX Institutional purchased a new position in shares of Kontoor Brands in the first quarter worth $32,000. Versant Capital Management Inc increased its stake in shares of Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $42,000 after buying an additional 207 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kontoor Brands in the fourth quarter worth $98,000. Blue Trust Inc. increased its stake in shares of Kontoor Brands by 23.4% in the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after buying an additional 274 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Kontoor Brands in the first quarter worth $94,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KTB. Barclays reaffirmed 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. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the company 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.33.

Kontoor Brands Stock Up 8.7%

Shares of Kontoor Brands stock opened at $83.94 on Friday. 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 company's fifty day simple moving average is $69.45 and its two-hundred day simple moving average is $66.10. The company has a market cap of $4.66 billion, a P/E ratio of 18.74, a PEG ratio of 1.77 and a beta of 1.10. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $658.26 million for the quarter, compared to the consensus estimate of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. Research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.5%. Kontoor Brands's dividend payout ratio is currently 46.43%.

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.

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