MetLife Investment Management LLC Buys 210,059 Shares of Kontoor Brands, Inc. $KTB

Key Points

• MetLife Investment Management LLC significantly increased its stake in Kontoor Brands, raising its shares by 639.3% and owning approximately 0.44% of the company valued at $15.58 million.
• Several brokerages have recently boosted their price targets for Kontoor Brands, with UBS Group setting the highest target at $99.00 and analysts rating the stock with a consensus rating of "Moderate Buy."
• Kontoor Brands announced a quarterly dividend of $0.52 per share, reflecting an annualized dividend of $2.08 with a yield of 2.7%, to be paid on September 19th.

MetLife Investment Management LLC grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 639.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,915 shares of the company's stock after purchasing an additional 210,059 shares during the period. MetLife Investment Management LLC owned approximately 0.44% of Kontoor Brands worth $15,578,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional purchased a new position in shares of Kontoor Brands during the first quarter valued at about $32,000. Versant Capital Management Inc grew its position in shares of Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after purchasing an additional 207 shares in the last quarter. Quarry LP grew its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after purchasing an additional 450 shares in the last quarter. Blue Trust Inc. grew its position in shares of Kontoor Brands by 23.4% during the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after purchasing an additional 274 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in Kontoor Brands in the first quarter worth about $94,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Down 1.7%

NYSE KTB traded down $1.30 during trading on Thursday, hitting $76.66. The stock 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. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.79 and a beta of 1.11. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The stock has a 50 day simple moving average of $66.94 and a 200 day simple moving average of $66.51.

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, topping 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 business had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. During the same quarter last year, the firm earned $0.98 earnings per share. 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. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share 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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's payout ratio is currently 46.43%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. UBS Group lifted their price target on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Barclays reiterated an "overweight" rating and issued a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Finally, Wells Fargo & Company lifted their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Kontoor Brands presently 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.