Northern Trust Corp Boosts Stake in Kontoor Brands, Inc. $KTB

Key Points

• Northern Trust Corp increased its stake in Kontoor Brands, Inc. by 1.0% in Q1, now holding approximately 2.05% of the company valued at $72.76 million.
• Kontoor Brands recently received upgraded ratings from several analysts, with Wells Fargo setting a new target price of $90.00, while UBS raised it to $99.00.
• The company is set to pay a $0.52 quarterly dividend on September 19th, with an annualized dividend yield of 2.7% based on a 46.43% payout ratio.

Northern Trust Corp grew its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134,524 shares of the company's stock after buying an additional 10,847 shares during the quarter. Northern Trust Corp owned 2.05% of Kontoor Brands worth $72,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional purchased a new stake in shares of Kontoor Brands in the first quarter valued at approximately $32,000. Versant Capital Management Inc lifted its position 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 valued at $42,000 after acquiring an additional 207 shares in the last quarter. Quarry LP lifted its position in shares of Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after acquiring an additional 450 shares in the last quarter. Blue Trust Inc. lifted its position 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 valued at $93,000 after acquiring an additional 274 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kontoor Brands in the fourth quarter valued at approximately $98,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KTB. Stifel Nicolaus raised their target price on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Barclays restated an "overweight" rating and issued a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. UBS Group raised their target price on Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Friday, August 8th. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.67.

Kontoor Brands Trading Up 0.6%

Shares of KTB stock traded up $0.49 during trading on Friday, hitting $77.22. 909,931 shares of the stock traded hands, compared to its average volume of 859,221. The firm has a market capitalization of $4.29 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. The firm's fifty day moving average price is $67.21 and its 200-day moving average price is $66.26. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.86 by $0.35. The firm had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date is 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.