Moran Wealth Management LLC Has $2.39 Million Position in Kontoor Brands, Inc. $KTB

Key Points

• Moran Wealth Management LLC reduced its stake in Kontoor Brands by 13.4%, now holding 36,273 shares valued at approximately $2.39 million.
• Several institutional investors have increased their positions in Kontoor Brands, with ownership now reported at 93.06% among them.
• Analysts have raised price targets for Kontoor Brands, with some forecasting a current consensus rating of "Moderate Buy" and an average price target of $94.00.

Moran Wealth Management LLC trimmed its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,273 shares of the company's stock after selling 5,595 shares during the period. Moran Wealth Management LLC owned about 0.07% of Kontoor Brands worth $2,393,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KTB. AlphaQuest LLC increased its position in Kontoor Brands by 2.2% during the first quarter. AlphaQuest LLC now owns 6,673 shares of the company's stock worth $428,000 after buying an additional 143 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Kontoor Brands by 12.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock worth $115,000 after acquiring an additional 203 shares during the period. Xponance Inc. increased its holdings in shares of Kontoor Brands by 5.1% during the 1st quarter. Xponance Inc. now owns 4,230 shares of the company's stock worth $271,000 after acquiring an additional 205 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Kontoor Brands by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 14,696 shares of the company's stock worth $969,000 after acquiring an additional 250 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Kontoor Brands by 2.9% in the 1st quarter. Hsbc Holdings PLC now owns 8,945 shares of the company's stock valued at $570,000 after acquiring an additional 252 shares during the period. Institutional investors own 93.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on KTB shares. UBS Group lifted their price objective on shares of Kontoor Brands from $99.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays restated an "overweight" rating and set a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a research note on Friday, August 8th. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Kontoor Brands in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Kontoor Brands Stock Up 3.2%

Shares of KTB opened at $84.42 on Thursday. 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 12 month low of $50.00 and a 12 month high of $96.80. The firm's 50 day moving average is $77.58 and its 200-day moving average is $68.91. The stock has a market capitalization of $4.69 billion, a PE ratio of 18.84, a P/E/G ratio of 1.88 and a beta of 1.15.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $632.97 million. During the same period in the previous year, the company posted $0.98 earnings per share. The firm'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. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 9th. Kontoor Brands's payout ratio is 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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