Vanguard Group Inc. Lowers Stock Holdings in Kontoor Brands, Inc. $KTB

Key Points

• Vanguard Group Inc. has reduced its holdings in Kontoor Brands by 1.6%, now owning approximately 6.2 million shares, valued at $398.7 million.
• Kontoor Brands recently reported a quarterly earnings increase, achieving $1.21 EPS, which exceeds analysts' expectations of $0.86, alongside a revenue of $658.26 million.
• The company announced a dividend of $0.52 per share, with a 2.9% yield, scheduled for distribution to shareholders on September 19th.

Vanguard Group Inc. reduced its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,217,083 shares of the company's stock after selling 98,830 shares during the period. Vanguard Group Inc. owned about 11.24% of Kontoor Brands worth $398,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CX Institutional bought a new stake in Kontoor Brands during the 1st quarter valued at $32,000. Versant Capital Management Inc increased its holdings in shares of Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after acquiring an additional 207 shares during the period. Quarry LP grew its stake in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after buying an additional 450 shares during the last quarter. Blue Trust Inc. grew its stake in Kontoor Brands by 23.4% during the 1st 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kontoor Brands during the 4th quarter valued at about $98,000. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 0.9%

Kontoor Brands stock traded up $0.6140 during mid-day trading on Tuesday, hitting $72.1940. The company's stock had a trading volume of 400,692 shares, compared to its average volume of 740,203. 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 stock's fifty day moving average is $65.26 and its two-hundred day moving average is $66.88. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The firm has a market capitalization of $4.01 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.62 and a beta of 1.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 68.76% and a net margin of 9.48%.The business had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. During the same period 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. On average, analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's dividend payout ratio (DPR) is presently 46.43%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Barclays reissued an "overweight" rating and issued a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Stifel Nicolaus boosted their price objective on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to 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.