MetLife Investment Management LLC Purchases 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 increased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 639.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 242,915 shares of the company's stock after acquiring an additional 210,059 shares during the quarter. MetLife Investment Management LLC owned about 0.44% of Kontoor Brands worth $15,578,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of KTB. CX Institutional bought a new position in Kontoor Brands during the first quarter worth about $32,000. Versant Capital Management Inc grew its stake in Kontoor Brands by 46.7% during 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 in the last quarter. Quarry LP grew its stake in Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company's stock worth $62,000 after buying an additional 450 shares in the last quarter. Blue Trust Inc. grew its stake in Kontoor Brands by 23.4% during 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 in the last quarter. Finally, SVB Wealth LLC acquired a new stake in Kontoor Brands during the first quarter worth about $94,000. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 0.6%

NYSE:KTB traded up $0.49 during mid-day trading on Friday, hitting $77.22. 909,931 shares of the company's stock were exchanged, compared to its average volume of 859,221. The company has a 50 day simple moving average of $67.21 and a 200-day simple moving average of $66.26. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 2.74. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The firm has a market capitalization of $4.29 billion, a P/E ratio of 17.24, a PEG ratio of 1.77 and a beta of 1.10.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.21 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 for the quarter, compared to the consensus estimate of $632.97 million. During the same period last year, the company earned $0.98 EPS. The firm's 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. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 annualized dividend and a yield of 2.7%. Kontoor Brands's dividend payout ratio (DPR) is presently 46.43%.

Analyst Ratings Changes

A number of brokerages have issued reports on KTB. Stifel Nicolaus increased their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. UBS Group increased their price objective on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Barclays reiterated an "overweight" rating and set a $91.00 price objective (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 price objective on shares of Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Kontoor Brands currently has an average 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.