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

A number of other institutional investors have also recently made changes to their positions in the company. Beacon Pointe Advisors LLC grew its position in shares of Kontoor Brands by 3.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock valued at $530,000 after purchasing an additional 202 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Kontoor Brands by 12.7% during the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock valued at $115,000 after purchasing an additional 203 shares in the last quarter. Xponance Inc. grew its position in shares of Kontoor Brands by 5.1% during the first quarter. Xponance Inc. now owns 4,230 shares of the company's stock valued at $271,000 after purchasing an additional 205 shares in the last quarter. 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. Finally, 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. Hedge funds and other institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

KTB has been the subject of a number of analyst reports. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company increased their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Stifel Nicolaus increased their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Barclays reaffirmed an "overweight" rating and issued a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and a consensus target price of $89.67.

Kontoor Brands Stock Performance

Shares of KTB traded down $1.30 during trading hours on Thursday, reaching $76.66. 527,621 shares of the company traded hands, compared to its average volume of 918,045. The stock has a market capitalization of $4.26 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.79 and a beta of 1.11. The company has a quick ratio of 0.95, a current ratio of 2.18 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 business has a fifty day moving average price of $66.94 and a 200-day moving average price 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 for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. Equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's dividend payout ratio is currently 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.